Wednesday, Mar 04, 2009
Food inflation 17%, official food inflation 9%
The Times: Food prices surge 9% despite inflation fall
Shop price inflation rose last month because of the increasing cost of meat, fresh produce and tinned goods, with overall prices up at an annual rate of 9 per cent, from 7.5 per cent in January.
The cost of fresh food was 10.4 per cent higher in February than the same month last year. But the cost of ambient goods, such as tinned food or ready meals was also pushed higher as the cost of imported food rose because of the weak pound.
The cost of an average basket of 24 staple items in the supermarket was 17 per cent higher last month than in February 2007, a separate survey by mysupermarket, the price comparison website, showed recently. The cost of an average basket of 24 staple items in the supermarket was 17 per cent higher last month than in February 2007, a separate survey by mysu
2 Comments
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1. paul said...
Now this will be very inconvenient for the coming interest rate decision.
RPI is plummeting because of housing, CPI official measure is gaining.
Answer (as always) CUT THOSE RATES!
2. landofconfusion said...
Have to admit I've noticed this. We are in a 'deflationary' scenario where important things (excluding housing costs) are going up and yet the government, no sorry, BoE is cutting rates.
Anyone else think that we are going to see a surge in inflation in the not too distant future?