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Food Prices Skyrocket: Cod Fillets Up 44 Times Since 1970s

9/24/2025

44 10 Full Breakdown

Summary

Story summary

Cod fillets now cost nearly 44 times more than in the 1970s, signaling broad food-price pressure.
A survey finds 57% worry prices rise faster than wages, while food inflation is 5.1% and overall inflation 3.8%.
British Retail Consortium warns food inflation could exceed 5% into 2026; plans to cut business rates may be offset by a surtax on large shops.

History

Historical Context

The 1974 Oil Crisis triggered a global economic downturn, leading to significant food price inflation. In the UK, food inflation reached 5.1% in 2023, with cod fillets costing nearly 44 times more than in the 1970s. This trend reflects ongoing economic pressures where rising costs outpace wage growth, raising concerns among 57% of consumers about food affordability and economic inequality.

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Story summary

Cod fillets now cost nearly 44 times more than in the 1970s, signaling broad food-price pressure.
A survey finds 57% worry prices rise faster than wages, while food inflation is 5.1% and overall inflation 3.8%.
British Retail Consortium warns food inflation could exceed 5% into 2026; plans to cut business rates may be offset by a surtax on large shops.

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