Food Prices Hit 45-Year High
The Independent|March 23, 2023
Inflation jumped unexpectedly to 10.4 per cent in February as food prices rise at their highest rate for 45 years, putting pressure on the Bank of England to further raise interest rates this week.
Eleanor Noyce Matt Mathers
Food Prices Hit 45-Year High

The rate of Consumer Prices Index inflation was up from 10.1 per cent in January, the Office for National Statistics said, despite the Bank saying last month it believed inflation had peaked from its high of 11.1 per cent late last year. Analysts still expect inflation to fall over the course of 2023 as sky-high energy bills - the main driver of inflation - start to come down with falls in gas and electricity costs.

Most economists were expecting CPI to decrease to 9.9 per cent in February and say the surprise rise was due to a shortage of vegetables pushing up the price of food, as well as alcohol prices in pubs and restaurants rising after going down in January.

Economists had been on the fence about whether Britain's central bank will opt for another rate rise at the next Monetary Policy Committee (MPC) meeting, following a period of instability in the global banking sector.

هذه القصة مأخوذة من طبعة March 23, 2023 من The Independent.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة March 23, 2023 من The Independent.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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