Fish and chips prices are on the rise as the UK faces food inflation. The country's favourite delicacy is likely to rise to more than £10.
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Food inflation
According to reports, the inflation rate in 2022 jumped to 5.4% from 0.7% in 2021. The National Federation of Fish Friers (NFFT) has taken notice of the massive food inflation rates that have been steadily rising in the United Kingdom.
Andrew Cook, the NFFT's president, who operates a chippie named Skipper’s in Lancashire, currently charges £7.50 says:
We have always worked on very narrow margins but now the increases are so severe it is going to be impossible for businesses to absorb.
We are in unprecedented times where we are seeing high levels of inflation and food inflation is even higher.
The current pricing of fish and chips ranges from £6.50 to £9, but NFFT warns this won't last long.
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Items with surged prices
The reason behind the expected hike of the dish is that the ingredients that are used to make the dish have risen exponentially. According to Metro news, the price of cod has risen by 75% while that of haddock has gone up by 85%. Mushy peas are also 120% more expensive than before, and there is also a surge in the price of butter. Furthermore, a 20% VAT will return to the UK from April.
NFFT's Cook added:
Other products are simply not available, and we have seen suppliers move away from the sector.
All of this has made it incredibly difficult for fishermen to sustain previous fish and chips production rates, much alone increasing it. The cost of producing beer is also on a steady hike.
Cook adds:
Most of the supplies we use in the fish and chip industry have increased drastically in price and we are expecting this to continue for some considerable time.
It appears that the food industry's prospects will only improve until UK inflation rates fall.
