GB News came to an unexpected halt as they issued a major breaking news update – and it’s bad news for Sir Keir Starmer. On Tuesday morning (March 31), hosts Mark White and Dawn Neesom paused the breakfast show following the release of new inflation rates in the UK. They explained that the grocery price inflation has held steady at 4.3% in March but warned viewers that this figure is “likely to increase” as the conflict in the Middle East continues.
According to market research from Worldpanel by Numerator, circumstances resulting from the US-Iran war leave consumers feeling exposed and are “only intensifying”. The research firm added that even before hostilities began, over 60% of British shoppers expressed serious concern about escalating grocery costs.
Dawn added that more than one in five Brits are struggling financially, with each 1% increase adding approximately £50 a year to food bills across the country. She added: “The government thinks we don’t understand that the prices we’re seeing reflected now are happening before the war took place.”
Fraser McKevitt, head of retail and consumer insight at Worldpanel, explained: “Financial anxiety among British consumers was already running high before the conflict began.
“Shoppers will look to lessen the impact on their baskets when faced with rising prices, and while there remains a level of uncertainty, we are watching the data closely for behavioural changes like trading down and switching, which often emerge during a period of economic pressure.”
As the Easter holiday approaches, roughly four in 10 consumers purchased at least one packet of hot cross buns over the past month, while nearly a third took home an Easter egg. Chocolate inflation has eased slightly to 8%, down from 9.3% the previous month, yet the average Easter egg now costs £3.27.
This represents a 9% increase compared with last year. Mr McKevitt added: “Despite this, there is no sign of shoppers choosing smaller eggs though, with an average weight of 162g, a marginal increase on last year.”
It didn’t take long for viewers to flock to X – formerly known as Twitter – to share their concerns online, with one user fearing: “This is worrying for so many households. Grocery prices staying the same for now is okay, but with the Iran crisis looming, inflation could rise soon. Many families are already struggling with the cost of living.”
Another agreed: “What a mess Labour have caused”, as a third suggested: “The UK should be placed on a wartime footing immediately. This means limit of all domestic and international travel to essential travel only, food rations with weekly limits of milk, bread, meat and vegetables, and fuel rations with proof of essential travel required.”
