Food inflation may be coming to an end, Associated British Foods (ABF) has claimed.
According to finance director at the company John Bason, the charges demanded for global commodities have begun to settle recently.
There has been a levelling off of items such as corn oil, dairy and wheat, the organisation highlighted.
“I think that the worst of commodity price inflation is behind us, ” Bason said.
A spokesman at the company also said that it is difficult to see the price of major commodities rising again in the near future, but that “it remains to be seen if these signs herald a trend”.
This week analysts such as Richard Perks from Mintel argued that retailers are taking advantage of rising inflation and are offering products above official inflation figures.
