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Story summary
- Mark Preston of Grosvenor Group said fertilizer prices rose 50-70 % since the Iran war began in late February, pushing farmers’ input costs up to 70 % and threatening higher food prices next year.
- Helen Dickinson of the British Retail Consortium warned supermarkets will pass the higher costs to consumers.
- The Food and Drink Federation cautioned that food inflation could reach 10 % this year.
