Even though the headline rate of inflation has dropped for the third month in a row, according to economic stats, the rate is still close to a 40 year high at 10.1 percent in the UK.
Food price inflation though has remained stubbornly elevated, at a 45 year high level of nearly 17 per cent.
Higher input costs for farmers and producers with higher energy prices have helped push the food inflation.
The inflationary spike in transportation costs have reduced thanks to the downward push on fuel costs.
The UK is however experiencing its worst bout of inflation in a generation and the economic battle against it is only at early stages. Expecting more interest rate rises by the Bank of England is surely a certainty.
