Food Inflation In The UK

Just a quick look at inflation before the metaphorical printing presses run this (Thursday) afternoon.

The reason that we are able to print money today is because we have low inflation, will be Alistair’s foundation for doing so, as we watch prudence’s last fig leaf blow away.

Food inflation however, which has the biggest impact on households, rose 9% year on year. Non food fell 2%. The weak pound vs the euro is pushing more of our home grown food overseas, for higher prices. Farmers have seen a 36% increase in real incomes over the last year. Good news for them, less for anyone who shops..or buys food..or eats.

The 9% food increase (British Retail consortium) BRC figures shows a 1.9% increase across all sectors.

That hoped for Minus inflation figure is looking ever more fantasy.

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