Food and drink prices soared last month at the fastest rate for 45 years despite slowing inflation rate in the UK, latest official figures show.
According to the Office for National Statistics (ONS), food prices increased by 19.1 percent in March year-on-year, the sharpest jump since August 1977.
The prices of bread, cereals, and fruit all increased, while the impact of vegetable shortages continued to weigh on inflation.
This is despite the fact that Consumer Prices Index (CPI) inflation fell to 10.1 percent in March from 10.4 percent in February.
The drop in inflation was largely driven by lower fuel costs, with petrol and diesel costs down 5.9 percent against the same month last year after prices had spiked following Russia’s invasion of Ukraine….