[ad_1]
10:18
IEA weighs oil shares launch to stem oil worth surge – report
10:11
10:03
10:00
09:53
Afternoon abstract
Up to date
09:38
Wheat costs hit 13-year excessive
Up to date
09:28
Austia’s Raiffeisen Financial institution Worldwide seems to be at leaving Russia – report
09:11
Might Putin be exploring cryptocurrencies to bypass western sanctions?
09:05
08:37
German inflation rises; Ukraine warfare to carry again stagflation
07:56
Abrdn describes Russia, Belarus as ‘non-investable’
Up to date
07:38
07:26
Jaguar Land Rover pauses gross sales to Russia
07:13
07:11
In different inflation information, UK grocery costs climbed at their quickest price in over eight years in February, in line with knowledge from market analysts Kantar, who warned the squeeze on customers will proceed because of provide chain disruption and the battle in Ukraine, writes my colleague Joanna Partridge.
Meals worth inflation reached 4.3% final month, the very best degree seen since September 2013, as the worth of things together with savoury snacks, recent beef and cat meals rose the quickest. Nonetheless the price of some merchandise, together with bacon, beer, and spirits has been falling.
Britain’s households are already dealing with a value of residing disaster, after the UK’s annual inflation price hit 5.5% in January, hitting its highest degree in virtually 30 years. Nonetheless, even earlier than Russia’s invasion of Ukraine, economists had predicted that there was extra ache to come back in April, when family power payments will soar.
Fraser McKevitt, head of retail and client perception at Kantar, predicted that meals costs are more likely to proceed their climb:
Aside from the beginning of the pandemic, once we noticed grocers reduce promotional offers to keep up availability, that is the quickest price of inflation we’ve recorded since September 2013.
Added to this, ongoing provide chain pressures and the potential influence of the battle in Ukraine are set to proceed pushing up costs paid by shoppers.
[ad_2]
Source link