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In the wake of the worst flooding Britain has seen for decades, many farmers are facing bankruptcy, it has emerged.
Hundreds of thousands of acres of crops are going unharvested because of the damaging floods that swamped areas including Gloucestershire and Oxfordshire.
Both the Severn and the Thames rivers burst their banks resulting in chaos and over £6 billion worth of damage.
Ian Kernohan, economist at Royal London Asset Management, told the Observer: "The floods are not expected to damage overall economic growth, but there is a big issue of food price inflation.
"It is already quite high in the UK due to global factors such as rising wheat prices."
Some have forecast that the floods will contribute to the Bank of England`s monetary policy committee raising the base interest rate further.
The rate has already been raised five times in the last year.
