Inside Business

Food price inflation still climbing as our myopic government drives the economy off a cliff

The Bank of England has had to intervene in the markets again as the consequence of government economic judgement bites down on struggling families, argues James Moore

Tuesday 11 October 2022 16:32 BST
The average supermarket shop is continuing to climb in price
The average supermarket shop is continuing to climb in price (PA)

Financial data that raise an expletive? It’s rare, particularly for those who’ve been around the block a few times. Researcher Kantar’s latest figure for food price inflation – however – does the job for me.

True, the numbers have been running hot for some time. But 13.9 per cent is verging on the catastrophic. It’s a sickener for families in financial peril.

Assuming the same basket of goods, the average household is facing a £643 jump in their annual grocery bill, bringing the total to an ugly looking £5,265.

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