On 20th March it was 6 years since I joined Tesco, as C0vid changed my world.
With prices going up and new wars starting, thought I’d ask AI a few questions:
A typical 60-item shopping basket today (March 2026) costs approximately £119, representing an increase of nearly 40% compared to the same basket at the end of 2020.
Energy and Input Costs: The 2022 invasion of Ukraine caused global spikes in the price of gas, electricity, and fertilisers. As a net importer, the UK was highly exposed to these costs, which were passed from farms to supermarket shelves.
Supply Chain Disruptions: The pandemic caused long-lasting bottlenecks in global shipping and logistics, making it more expensive to transport goods into the UK.
Europe: Arms imports by European states more than tripled, rising by 210% in the 2021–25 period.
Ukraine: Now the world’s largest arms importer, Ukraine received 9.7% of all global arms transfers between 2021 and 2025, up from just 0.1% in the preceding five years.
United States: Cemented its dominance with a 42% share of global exports, with sales to Europe increasing by 217%.
While a prolonged blockage of the Strait of Hormuz is expected to drive up UK grocery bills, it is poised to deliver a multi-billion dollar windfall for specific sectors of the American economy.
Oil Producer Profits: U.S. oil companies are estimated to receive a windfall of more than $60 billion this year if crude prices remain at current levels.
Cash Flow Surge: American producers generated an estimated $5 billion in extra cash flow in March 2026 alone following the roughly 47% rise in oil prices since the conflict began.
Stock Market Gains: Shares in major U.S. LNG exporters, such as Cheniere Energy, rose by 5.5% immediately following news of the disruption.
Looks to me like we need to simply say no to war, minimise our reliance on oil and start growing more food here in the UK.
What do you think?
