Food prices have shown their first increase for nearly two and a half years. To me, this is no surprise and long overdue as the issue has been bubbling within suppliers for the last six months.

Brexit and the fall in the pound have been a big driver and, by and large, the majority of the increases are being passed onto the consumer. The next 6 to 12 months will tell just how price elastic the consumer is and whether there will be a flight to quality or to value.