Posted on 04/19/2023 3:01:49 AM PDT by Oldeconomybuyer
The rate of inflation has eased slightly but still remains above 10%, according to official figures showing food and drink costs at a 45-year high.
The Office for National Statistics (ONS) said the consumer prices index (CPI) measure slowed to 10.1% in March from 10.4% the previous month.
Economists had largely expected a figure of 9.8%.
However, upwards pressure remained from household gas and electricity and food, including essentials such as bread, milk and eggs.
Food and non-alcoholic drink inflation was measured at 19.1% by the ONS - the highest level since August 1977.
High commodity and production costs are mostly to blame.
ONS chief economist Grant Fitzner said of the easing in overall inflation in March: "The main drivers of the decline were motor fuel prices and heating oil costs, both of which fell after sharp rises at the same time last year.
"Clothing, furniture and household goods prices increased, but more slowly than a year ago.
(Excerpt) Read more at news.sky.com ...
Ouch!
And the real coronation chicken says let them eat quiche!
What a coinkydink that western countries are all over the globe are all destroying their middle classes at exactly the same time...
NOT.
Real inflation here is 14%... or you can beli e what the government says.
Colgate was 1.99 and grewuently b1g1. So I’d get 4 for 4.00 on sale. Yesterday it was 2 for 8.00 on sale.
Frequently
Some author doesn't understand the difference between price and rate of change of prices. Since currency devaluation is a perpetual problem of governments, food prices are almost certainly the highest ever and will break that record next month too. The speed of that price increase is the fastest in 45 years.
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