AGP Executive Report
Last update: 5 hours agoFood Costs: Shop-price inflation climbed to 2.1% in October, its highest in two and a half years, as retailers warn rising energy and ingredient costs are increasingly being passed on. The government says tariff cuts on more than 100 products could save households up to £21 a year on groceries. Pubs and Drinks: The Chancellor is expected to raise alcohol duty with inflation, adding about 2p to a pint, despite calls from pub and drinks groups for a freeze. New British brand Oovi has launched six functional soda flavours, pitching everyday ingredients and familiar tastes at accessible prices. Industry Pressure: UK business distress reached a record high, with hospitality distress up 5% and food and drug retailers up more than 7% year on year. Food Resilience: UK abattoir numbers have fallen from around 2,500 in the 1970s to 203, leaving many farmers struggling to find suitable facilities. Meanwhile, government stockpile advice has driven a 40% jump in tinned-food sales at Iceland.
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