So is food going to go up again in October?

[nickthefox]

As well as energy prices again?
We are spending such extra on just living. I don't know how we are going to manage to be honest. No clue.

Would it be worth buying an extra bit of food now to use when prices go up again?
is that what others are doing?

I read (don't know how true it is or if it can even be predicted) but I read something about Martin Lewis saying that prices for October will rise by 54%. Is that from todays prices or before? what's it gone up to now?
I don't understand how everything can get more expensive at once. and they know its going up again in October? Does that mean that the price rise should have been worse? i just don't understand!

honestly I feel sick with worry.

DHs work has slowed unexpectedly (he's not in a job that can be cut or anything. it's work that needs doing) and we aren't struggling yet but we will be ssoon.i can't see us managing when our savings have been eaten.

I don't need money saving tips. we already batch cook, buy seasonal, cheap, bulk, use little electricity, use little water. we can't realistically cut back any more day to day. if the cases go up again (double? does 54% m
increase mean everything or just fuel? everty?) we won't be able to pay.
what then?

The only thing I can think of changing is buying dried beans and chickpeas instead of tinned.

No its rhe energy thats going up 54% not food

@FayeGovan but surely it will mean that any food requiring any fuel.in it's production will also increase in price.

If electricity goes up the surely the cost of processed food will go up, or food that needs to be refrigerated etc (so basically all food)

Plus the rising cost of fuel will get added on at some point

I really wouldn't get too stressed now.
Yes , energy prices are going to go up again but I'm not convinced that everything will go up. Certainly I don't think that food prices will go up by 54%.

I could be wrong though.

The laws of supply and demand will apply for most things so any rises in food will be at the 'affordable' range otherwise they won't be bought.
We'll just have to wait and see though.
Hope you're not advocating panic buying?!

Yes energy prices going up will increase food costs, but not by 54% - as only part of the price of food relates to the energy required to manufacture, package and transport it.

However, given how fundamental energy is to all processes - it is likely to have an impact more broadly across products and services we consume in the UK

However it will be difficult to predict what the rises will be, a lot of things could happen in the next 3 or 4 months

Not reassuring at all, but ultimately not much we can do other than the set of things you have already suggested

The price cap on energy (so the maximum an energy company can charge per unit and standing charge on their standard variable tariff) is reviewed twice a year (currently) - in April and October. That's why it is a fixed date. Costs are increasing all the time, but energy companies can't pass on that cost on their standard tariff yet.

Food is likely to keep going up gradually all year. Energy prices will effect them (eg processing costs will increase as energy costs do) but businesses energy tariffs are separate from the domestic price cap, so the October date is less relevant for that. Fuel costs are also a big influence on food prices, and everything else.

Businesses don't benefit from the energy cap so there won't necessarily be a jump in October. Food prices are expected to keep increasing, with food inflation hitting 15% through summer, and stay high into 2023.

And regarding your other question, probably no - not worth buying food in advance. The amount saved on a few tins will be negligible - fresh stuff, with a bigger price tag, may be more impacted - and you can't store that for long periods anyway

As pre previous poster it sounds like you are already doing the right things, it won't last forever and no point wasting too much head space right now, it is hard but its a bit of a wait and see