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Skimming through the UK inflation report, we can see that food inflation fell to its lowest level in almost two and a half years.
Prices for food and non-alcoholic beverages rose by 4.0% in the year to March 2024, down from 5.0% to February. The March figure is the lowest annual rate since November 2021, the ONS reports.
Prices for bread and cereals rose by 0.2% on the month, compared with a rise of 2.2% a year ago, resulting in an annual rate in March 2024 of 4.0% – the lowest since January 2022. Prices of some bakery products, such as chocolate biscuits and crumpets, fell between February and March 2024 but rose between the same period a year ago.
Meat prices fell by 0.5% between February and March this year, compared with a rise of 1.4% a year ago.
Continue reading…Rolling coverage of the latest economic and financial newsMiddle East conflict risks sharp rise in oil prices, says IMFSkimming through the UK inflation report, we can see that food inflation fell to its lowest level in almost two and a half years.Prices for food and non-alcoholic beverages rose by 4.0% in the year to March 2024, down from 5.0% to February. The March figure is the lowest annual rate since November 2021, the ONS reports.Prices for bread and cereals rose by 0.2% on the month, compared with a rise of 2.2% a year ago, resulting in an annual rate in March 2024 of 4.0% – the lowest since January 2022. Prices of some bakery products, such as chocolate biscuits and crumpets, fell between February and March 2024 but rose between the same period a year ago.Meat prices fell by 0.5% between February and March this year, compared with a rise of 1.4% a year ago. Continue reading…
