Britons fear Iran war will push up food prices

Four in five Britons are worried that the Iran war will push up food prices, according to a new Opinium poll, as retailers warn that ministers are running out of time to cut energy costs and ease pressure on households.

The survey found 80% of respondents were concerned about rising grocery prices, while 73% expected the Middle East conflict to drive up the cost of other goods, Caliber.Az reports via foreign media.

Overall, 81% were worried about energy bills, 76% about petrol and diesel, and 68% about tax increases.

The disruption has been linked to the blockade of the Strait of Hormuz, which has pushed up oil and gas prices, strained global fertiliser supply, and increased shipping costs. Analysts say these pressures are feeding through supply chains and are likely to add to food inflation, which the Bank of England expects could reach 7% by the end of the year.

Helen Dickinson, chief executive of the British Retail Consortium (BRC), said the situation is already being felt across the sector. “driving up costs across the supply chain and families are right to be concerned”.

She urged the government to follow measures taken elsewhere in Europe. “Other governments are already acting,” she added. “Germany has reduced electricity costs for businesses by moving levies off bills and EU leaders are actively discussing similar responses to this crisis. The UK should be moving in the same direction, not treating global instability as cover for inaction on costs of its own making.”

Retailers have also pressed for action on energy costs. Simon Roberts, chief executive of Sainsbury’s, said limiting electricity prices for businesses was “the single biggest thing the government should do to keep prices down”.

The BRC warned that higher costs across the supply chain would ultimately be passed on to consumers. “Retailers are working hard to hold prices down, but they cannot do it alone. Every cost government chooses not to address is a cost that will find its way into someone’s shopping basket. That is a political choice, and it is one ministers still have time to change – but the window to act is closing.”

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.”

By Aghakazim Guliyev