Food prices inflation has risen by 15 percent in the past year in the UK. This is causing prices in shops to climb faster than ever before. Average shop prices are now 8.9 percent higher than they were at this time one year ago, The British Retail Consortium collects the data and they state that it is the highest rate of annual inflation that they have ever recorded.
Meanwhile the Governor of the Bank Of England, Andrew Bailey, has said that headline inflation would fall sharply this year, “ starting probably in a couple of months or so from now”. Don’t be holding your breath that long is Stalker’s advice.
Fresh food inflation has accelerated to 17 per cent in March, up from 16.3 percent in February.
