Inflation in the UK is Falling but it is still above 10%World | April 20, 2023, Thursday // 08:53| views
Falling wholesale food prices worldwide have not led to a drop in prices set by UK supermarkets, but the British Retail Consortium said that change was about to happen.
Inflation in Britain was expected to fall below 10 percent last month, but rising food prices prevented that from happening and, although there was a slight drop reported, it remained just above 10 percent.
National Statistics commented that people's expectations of seeing a drop in supermarket food prices, given that this is happening globally, have not been justified. The British Retail Consortium said it expects food prices to start falling over the next few months.
Food inflation is at record high levels for the last 45 years, with olive oil at 49 percent, milk at 38 percent and prepared foods at 21 percent. It is pointed out that the rising food prices most seriously affect the poorest households, whose main expenses are precisely for food.
The war in Ukraine has caused food prices to rise around the world, but the UK is also experiencing other problems, starting with Brexit and ending with labor shortages. This year's particularly bad weather has also contributed to shortages of some vegetables, exacerbated by soaring energy prices. In addition, British farmers claim that supermarkets do not pay them fairly for their produce.
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