Posted on 03/22/2023 3:42:29 AM PDT by Oldeconomybuyer
The rate of inflation has taken a surprise leap, driven by a rising cost of alcoholic drinks in pubs and food - partly a consequence of the recent salad shortage.
The Office for National Statistics (ONS) calculated the consumer prices index (CPI) measure of inflation at 10.4% over the 12 months to February.
That was up from an annual rate of 10.1% the previous month, dashing expectations of an easing that has been seen since the 41-year high of 11.1% in October last year, as the cost of living crisis gathered steam.
At that time, unprecedented energy prices were being swallowed by businesses and households alike amid the war in Ukraine despite financial support from the government.
ONS chief economist Grant Fitzner said: "Inflation ticked up in February mainly driven by rising alcohol prices in pubs and restaurants following discounting in January.
"Food and non-alcoholic drink prices rose to their highest rate in over 45 years with particular increases for some salad and vegetable items as high energy costs and bad weather across parts of Europe led to shortages and rationing.
"These were partially offset by falls in the cost of motor fuel, where the annual inflation rate has eased for seven consecutive months."
(Excerpt) Read more at news.sky.com ...
I’m shocked.
This only gets worse with the Fed printing $300,000,000 out of thin air last week getting ready for another series of bailouts.
SURPRISE?
So obvious only an expert could be surprised by this.
Making the deliberate seem like a common occurrence
That is the dang truth!
Even Ray Charles could see it.
No surprise here.
When you elect an enemy of the American people as president out of control inflation is but a small part of your reward.
From the Bottom up, middle out! True fact, Jack!
The uncontrolled spewing of word salad by the Biden administration might indicate that DC has bought up the available supply and caused shortages elsewhere.
One of the reasons beer & ale prices are up:
“The demand for feed barley is high at the moment. Russia and Ukraine account for 18% of global barley production & 30% of global exports. which is a huge share. So when countries look to source their barley it’s impacting the price we all pay. This will also impact the decisions the farmers make on what to grow. A concern is if feed barley becomes limited, farmers will use malting barley. This means pricing for brewers increases due to limited stock.”
by Geterbrewed 15th June 2022
It will only get worse since Europeans are cutting back on fertilizer (you know, to save the planet) and shutting down farms.
Unexpected
“Surprise.” Uh huh.
People shouldn’t be buying bitcoin out of greed for its growth potential. They should be buying bitcoin out of fear of what is happening with government fiat.
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