The price of bread could rise 20 per cent in the next few weeks as wheat prices hit a nine-year high, industry chiefs warn.
Rising global demand has sent the price of bread wheat up by 26.7 per cent in the past year as other costs rise, including transport fuel and gas for baking ovens.
Some of this will be absorbed by retailers but higher price tags on supermarket shelves are unavoidable, say experts.
Pasta has also become more expensive in recent weeks with food prices globally now at a ten-year high.
Higher wages to battle the lorry driver recruitment crisis are also contributing to soaring prices.
Alice Jones, analyst with agricultural body AHDB, said: ‘UK prices are following global trends.’
Bread wheat is now trading on commodity markets at £255.40 a tonne, up nearly 27 per cent on a year ago.
Allied Bakeries, which owns best-selling brand Kingsmill, said the industry was ‘exposed to inflationary pressure’ over the cost of flour, gas and delivery fuel’.
Read more: Price of a loaf is set to soar 20% within weeks as wheat prices hit nine-year high (all part of the plan)