Price of UK’s Preferred Fast Food Soars
The price of fish and chips has increased by more than 50% over the last five years, influenced by surging energy costs and sanctions imposed on Russia, according to data. Read Full Article at RT.com.
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In recent years, prices for the quintessentially British meal of fish and chips have increased drastically, reports from various UK media outlets revealed. Data from the Office for National Statistics (ONS) highlights that in July, fish and chips' average cost soared by about 52% from £6.5 in July 2019 to almost £10 ($13) per portion. This makes the price increase of this beloved dish higher than that of other popular foods such as pizza, kebabs, and Indian and Chinese takeaways over the same period.
The rise in prices can be attributed to several factors, according to industry insiders who spoke with the BBC. These include heightened energy and labor costs, subpar potato yields following adverse weather conditions, and sanctions on Russia relating to the situation in Ukraine. Russia, recognized as a global leader in cod production, faced a 35% seafood tariff from London amid the escalating Ukraine crisis in 2022. Since roughly a third of Britain's white fish previously came from Russia, this tariff significantly influenced fish and chips prices.
Further complicating matters, disruptions in global energy supplies due to Western sanctions and Russian retaliations have pushed up energy expenses for UK businesses, leading to a 19% hike in fish and chips costs by March 2023. Moreover, in a recent development, Russia restricted access for UK fishing vessels to its Arctic waters in the Barents Sea by terminating the longstanding Fisheries Agreement of 1956, further impacting fish prices.
Additionally, the latest figures from the Department for Environment, Food, and Rural Affairs’ Agricultural Price Index indicate that potato prices shot up by 4.1% over the year ending May 2024, representing the most significant increase among UK agricultural commodities.
Industry figures have expressed concerns over the affordability of fish and chips. "We’ve had the perfect storm of events in terms of cost pressures. It’s not a cheap meal anymore," Jon Long from Long John’s Fish and Chips in Dorset commented, describing the current economic scenario as the "toughest set of conditions" over the past thirty years.
Angela Cartwright, who runs Kingfisher Fish Bar in Salford, pointed out the disparity in consumer spending preferences: “People think that fish and chips is a cheap meal and it just isn’t. People are prepared to pay £15-20 for a pizza but they’re not prepared to pay it for a portion of fish and chips.”
For further reading on economic and financial stories, explore more articles in RT's business section.
Thomas Evans for TROIB News
The rise in prices can be attributed to several factors, according to industry insiders who spoke with the BBC. These include heightened energy and labor costs, subpar potato yields following adverse weather conditions, and sanctions on Russia relating to the situation in Ukraine. Russia, recognized as a global leader in cod production, faced a 35% seafood tariff from London amid the escalating Ukraine crisis in 2022. Since roughly a third of Britain's white fish previously came from Russia, this tariff significantly influenced fish and chips prices.
Further complicating matters, disruptions in global energy supplies due to Western sanctions and Russian retaliations have pushed up energy expenses for UK businesses, leading to a 19% hike in fish and chips costs by March 2023. Moreover, in a recent development, Russia restricted access for UK fishing vessels to its Arctic waters in the Barents Sea by terminating the longstanding Fisheries Agreement of 1956, further impacting fish prices.
Additionally, the latest figures from the Department for Environment, Food, and Rural Affairs’ Agricultural Price Index indicate that potato prices shot up by 4.1% over the year ending May 2024, representing the most significant increase among UK agricultural commodities.
Industry figures have expressed concerns over the affordability of fish and chips. "We’ve had the perfect storm of events in terms of cost pressures. It’s not a cheap meal anymore," Jon Long from Long John’s Fish and Chips in Dorset commented, describing the current economic scenario as the "toughest set of conditions" over the past thirty years.
Angela Cartwright, who runs Kingfisher Fish Bar in Salford, pointed out the disparity in consumer spending preferences: “People think that fish and chips is a cheap meal and it just isn’t. People are prepared to pay £15-20 for a pizza but they’re not prepared to pay it for a portion of fish and chips.”
For further reading on economic and financial stories, explore more articles in RT's business section.
Thomas Evans for TROIB News
