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Basic food prices surging - is a £7 pint on the way?
Food prices are having a big impact on people’s cost of living. There have been some eye-watering increases in the prices of basic groceries over the last year. This is a rate of inflation that people notice on their weekly shop and it inevitably feeds into inflation expectations.
Data for 30 everyday, grocery items, shows that the lowest-priced items have increased 17% over the last 12 months
Groceries that have increased in price in the last year include:
🌶 vegetable oil by 65%
🍝 pasta by 60%
☕️ tea by 46%
🍟 chips by 39%
🍞 bread by 38%
🍪 biscuits by 34%
With more people facing hunger, food banks in the UK are having to give out a parcel every 13 seconds. There is a crisis of working poverty in the UK economy.
Could the price of a pint climb above £7 in some of the UK's cities?
The price of raw ingredients including wheat and barley are rising well in excess of the rate of inflation, and carbon dioxide is costing 3,000% more than it did this time last year.
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