The forecast for household expenditure on food and drinks in the UK from 2024 to 2028 shows a gradual increase with values rising from 3.35 to 3.50 thousand pence sterling per capita per week. This represents a continuation of the growth trajectory observed in previous years. In 2023, the expenditure stood slightly lower, marking a consistent upward trend. The year-on-year growth rate is around 1.2%, indicating modest but steady increases each year. Over the five-year forecast period, the compound annual growth rate (CAGR) is approximately 0.89%.
Future trends to watch include the impact of inflation, changes in consumer behavior towards healthier and more sustainable food options, and potential economic shifts post-Brexit that could influence household spending patterns.
