Food prices are continuing to rise, increasing by 19.1% in the year to March – the sharpest jump since August 1977, according to new statistics from the Office for National Statistics.
Bread, cereals and fruit prices increased in March, while the impact of vegetable shortages also continued to weigh on inflation.
However, this was partly offset by lower fuel costs, with petrol and diesel costs falling 5.9% year-on-year after prices had spiked after Russia’s invasion of Ukraine.
ONS chief economist Grant Fitzner told BBC Radio 4’s Today Programme: “There’s been some strong upward movement in food prices and you would expect to see that reflected in supermarkets but we’re not there yet.”
