Four in five Britons are worried that the conflict with Iran will make food more expensive, according to a new Opinium poll. The survey of 2,000 people found that 80% are concerned about rising grocery prices, while 73% expect the conflict to push up costs for other products.
The blockade of the Strait of Hormuz has already driven up oil and gas prices, caused a crisis in the global fertiliser industry, and increased shipping and distribution costs. The effects have been felt most acutely in manufacturing and chemicals, but retailers warn that food prices will follow.
Helen Dickinson, chief executive of the British Retail Consortium, said the war is 'driving up costs across the supply chain and families are right to be concerned.' She urged ministers to remove non-commodity energy costs for retailers, noting that Germany has already reduced electricity costs for businesses and EU leaders are discussing similar measures.
The poll also found that 81% are worried about rising energy bills, 76% about petrol and diesel, and 68% about tax increases. The Bank of England forecasts food inflation could reach 7% by the end of the year due to higher fertiliser, energy, and transport costs.
Supermarket bosses met Chancellor Rachel Reeves in April to discuss the impact of the Middle East conflict. Simon Roberts, boss of Sainsbury's, said limiting energy prices for retailers is 'the single biggest thing the government should do to keep prices down.'
A government spokesperson said: 'We are acting to protect people from any potential increases in food prices. We have already suspended select food tariffs and continue to work closely with the sector to keep households bills down.'
