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Food prices soar – Inflation revision

Jim Riley

4th June 2009

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An article from the Daily Mail shows food price inflation in the UK is almost four times higher than in the rest of Europe while supermarkets have enjoyed record profits. Press read more for a table showing the changes in food prices in the UK and some GCSE style questions on inflation

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1/ State which three products have seen the largest percentage increase in price (3 marks)

2/ Explain what is meant by cost push and demand pull inflation. (4 marks)

3/ ‘Inflation is bad for the UK economy’. Do you agree with this statement? Give reasons for your answer. (10 marks)

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Jim Riley

Jim co-founded tutor2u alongside his twin brother Geoff! Jim is a well-known Business writer and presenter as well as being one of the UK's leading educational technology entrepreneurs.

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