Australians are being warned food inflation has not yet peaked.

Senior food retail analyst at Rabobank International, Michael Harvey, says consumers “need to probably brace for a little bit more pain”.

But he says Australians are faring better than residents in countries which aren’t as food secure.

“The story here for Australian consumers is clearly it’s tough times, you need to tighten your belt … but it is coming in an environment where lots of consumers around the world are really being challenged by this,” he told Ross and Russel.

“Fortunately what we are here is very food secure, we are a net exporter of food, and there will be relief on the horizon.”

Press PLAY below to hear what’s driving up food prices