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Cost of living: Inflation takes surprise leap to 10.4% with record food costs to blame
Posted
March 22, 2023
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2:11Now PlayingThe rate of inflation has taken a surprise leap, driven by record food costs.
The Office for National Statistics (ONS) calculated the consumer prices index (CPI) measure of inflation at 10.4% over the 12 months to February.
That was up from an annual rate of 10.1% the previous month, dashing expectations of an easing that has been seen since the 41-year high of 11.1% was witnessed last October as the cost of living crisis gathered steam.
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#costofliving #inflation #foodinflation #bankofengland #interestratehike
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