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There are signs that recent increases in the cost of food have peaked, Environment Minister Mark Spencer told lawmakers. His comments came after inflation unexpectedly rose in February, with figures from the Office for National Statistics (ONS) showing food prices hitting their highest rate in more than 45 years. While Spencer said there were "signs that this is the peak of this food inflation," he did not say directly, when asked, whether the government was on track to achieve its goal of cutting inflation in half by the end of this year.
He was speaking in the House of Commons during an urgent question on food price inflation.
Former Conservative environment secretary Theresa Villiers said the government's measures to support those facing the cost of living are "among the most generous in Europe".
"Mais cette nouvelle sur l'inflation des prix alimentaires est vraiment inquiétante, alors le ministre peut-il nous assurer que le gouvernement est sur la bonne voie pour tenir la promesse du Premier ministre de réduire de moitié l'inflation d'ici la fin of the year?" she says.
Mark Spencer responded: “We continue to monitor inflation. The Prime Minister has ambitions to reduce inflation.
"Food prices have been driving this inflationary number for the last month. But the good news is that we're starting to see signs that we're on top. And already some of these cost drivers, like the wholesale price of gasoline, fertilizers and imports, begins to decline.
He also told MPs: 'We are seeing signs that this is the peak of this food inflation.
The pressing issue was raised by shadow environment secretary Jim McMahon, who denounced environment secretary Therese Coffey for not attending the session.
The Labor leader said: 'I feel like I'm following a shadow. Where is the Secretary of State on the most important issue at this stage of your report? »
He warned: "The danger is that if headline inflation goes unchecked, it will affect people's ability to pay their mortgages and we could see further interest rate hikes as a result."
Spencer noted that her ministerial report focused on food, agriculture and fisheries, noting the government's support for the cost of living.
He also claimed that the shortage of vegetables was not the reason why food prices had risen at their highest rate in more than 45 years.
ONS data shows food and soft drink prices rose 18% year-on-year last month, up from 16.7% in January and the highest since August 1977.
The ONS noted that there were "particular increases" for some salads and vegetables due to high energy costs and bad weather in some parts of Europe, leading to shortages and rationing.
Spencer told the House of Commons: "While the recent extreme weather conditions in Morocco have also created a temporary disruption in the supply of fruit and vegetables, national retailers have kept prices relatively low compared to the rest of Europe, where in some cases demand has increased, leading to 300% increases in the price of certain vegetables.
"Several news outlets reported that recent shortages of certain salads and vegetables were the driving force behind the rise in food inflation in February, but this is not the case.
“Overall increases in the inflation rate were due to several factors, there are other categories where price increases were higher than for vegetables over the past year.
“These high headline inflation rates are driven by high utility prices and pressures on global supply chains felt across Europe and beyond. Commentators expect the rate of inflation both in the economy as a whole and in food and beverages to be near its peak. »
PA wire
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