Food prices up at fastest rate for 45 years as inflation falls to 10.1 per cent - The Evesham Observer

Food prices up at fastest rate for 45 years as inflation falls to 10.1 per cent

Evesham Editorial 19th Apr, 2023   0

SOARING prices for cheese, milk and bread meant the cost of living rose more than expected last month.

Inflation, which measures the rate of price rises, fell to 10.1 per cent in the year to March from 10.4 per cent in February.

It was widely expected to fall below 10 per cent, but food prices continued to soar, rising at their fastest rate in 45 years.

Falling inflation doesn’t mean prices are falling, but just that the rate of price rises is slowing.

Inflation in the UK remains higher than in other Western countries, including the US, Germany, France and Italy. On Wednesday, new figures showed eurozone inflation eased to 6.9 per cent last month, from 8.5 per cent

Factors behind the UK’s high inflation include its exposure to rises in wholesale gas prices, its reliance on imports of certain foods, and worker shortages and wage rises.




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