XII I II III IIII V VI VII VIII IX X XI

Milk and cheese drive food price inflation to 45-year high

News / Wed 16th Nov 2022 pm30 02:28pm

FOOD prices are rising at their fastest rate for 45 years, with the cost of basics such as milk, cheese and eggs surging reports BBC.

Food price inflation hit 16.2% in the year to October, up from 14.5% in September, latest figures show.

Energy and fuel costs also rose sharply, pushing the overall inflation rate to its highest level since 1981.

The surging cost of living is squeezing household budgets, leaving many people facing hardship.

The Office for National Statistics (ONS) said it was hitting poorer households hardest, as they spent around half of their income on food and energy, compared to about a third for those on middle incomes.

The overall inflation rate jumped to 11.1% in October, which was the highest rate in 41 years and up from 10.1% in September.

Click below for more details.

https://www.bbc.co.uk/news/business-63641414

Print Friendly, PDF & Email

1 Comment for Milk and cheese drive food price inflation to 45-year high:

Adam
2022-11-16 20:16:24

No covid response did this, the 500B that the PM printed as the chancellor. Those who supported and championed lockdown and the press who never questioned should be ashamed at what they have done to the poorest in Harlow. Well done, bravo. But the real applause goes to labour and socialists who are supposed to champion the poor and they wanted longer and harder restrictions and through the poorest under the bus while they continued as good champagne socialist's.

Leave a Comment Below:

Your email address will not be published. Required fields are marked *