Forecast: Household Expenditure on Food in the UK

The forecast for UK household expenditure on food indicates a steady increase from 2024 to 2028. In 2023, the expenditure stood significantly below the forecasted values. Starting at 116.97 billion pounds in 2024, it is expected to reach 130 billion pounds by 2028. This reflects an average annual growth rate of around 3% over the five-year period, demonstrating a consistent upward trend. Year-on-year growth percentages show incremental increases aligning with economic factors and inflation rates impacting food pricing.

Future Trends to Watch:

  • Influence of inflation and economic conditions on food prices and household budgets.
  • Changing consumer behavior due to health and sustainability concerns.
  • Potential impact of government policies on food affordability and accessibility.

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