Strait of Hormuz crisis could push UK food inflation higher and raise grocery bills

British shoppers could face higher grocery bills if disruption in the Strait of Hormuz continues to ripple through global supply chains, despite the UK importing relatively little food directly from the Gulf region. Simon Geale, executive vice president at Proxima, told GB News that sustained tensions would feed through to household budgets. He said: "While this is a geopolitical story, it will also turn into a household budget story if tensions persist. " Around one fifth of the world s oil

0 views
Share:
Strait of Hormuz crisis could push UK food inflation higher and raise grocery bills

British shoppers could face higher grocery bills if disruption in the Strait of Hormuz continues to ripple through global supply chains, despite the UK importing relatively little food directly from the Gulf region. Simon Geale, executive vice president at Proxima, told GB News that sustained tensions would feed through to household budgets. He said: "While this is a geopolitical story, it will also turn into a household budget story if tensions persist. " Around one fifth of the world s oil

Tags

aibusinesspoliticsworldstraithormuzcrisiscouldinflation