The main driving force behind the sharp increase in food prices in March was the rise in bread prices in the UK
British annual inflation slowed, but remained above ten percent in March.
According to the report of the British Statistics Office (ONS) on Wednesday, consumer prices calculated without housing costs were on average 10.1 percent higher last month than a year earlier.
The average of analysts’ forecasts predicted twelve-month inflation of 9.8 percent for March.
Twelve-month British inflation has exceeded ten percent every month since last September.
The Bank of England’s inflation target is 2 percent, which means that British inflation has been more than five times higher than the central bank’s target level for months.
Related news
K&H: the inflation anomaly is clearly visible, but customers perceive it differently
Although inflation has slowed down a lot, according to the…
Read more >Shrink inflation is getting worse
Dishwashing detergent, sweets, sour cream, cottage cheese, kefir and camembert…
Read more >Related news
The latest issue of Trade magazin is out now!
The digital version is available with more content once again…
Read more >FAO: global food prices increased for the second month in April on a monthly basis
In April, global food prices rose for the second month…
Read more >Beauty care travels at breakneck speed
Beauty care is one of the fastest growing markets in…
Read more >