Comment on food price inflation

Gareth is available for interview

Profile picture of George Smeeton

By George Smeeton

Last updated:

Commenting that news that today’s Bank of England Monetary Policy Report highlights retail price inflation for food had risen more than expected [1], Gareth Redmond-King, International Lead at the Energy and Climate Intelligence Unit (ECIU) said:

“Estimates for food price inflation last year were that climate change extremes of weather and the gas crisis were adding in the order of £400 to the household food shopping bill. [2]

“As the Bank of England has itself acknowledged, poor harvests have been pushing up prices. It’s perhaps no surprise that olive oil is number two on the list of food items currently driving inflation. [3] Heat extremes and droughts hit European harvests last year, and Spain, which provides two fifths or £123m of our olive oil, is already experiencing extreme heat again that would be virtually impossible without climate change. [4] Poor harvests push prices up, it’s as simple as that.”

Notes to editors:

  1. Monetary Policy Report - May 2023:
  2. £407 added to 2022 food bill by oil & gas prices and climate change:
  3. ONS: Cost of living insights: Food:
  4. Extreme April heat in Spain, Portugal, Morocco & Algeria almost impossible without climate change:

For more information:

George Smeeton, Head of Communications, ECIU, Tel: 07894 571 153, email: