Rising food prices drive UK inflation
August 19, 2022 - Britain’s Consumer Prices Index inflation reached 10.1% in July, driven by surging food prices. The ingredients in a typical fast-food meal leapt by more than 18 per cent from a year ago.
UK inflation has hit a 40-year high, according to data released by the Office for National Statistics.
According to the ONS, restaurant and hotel prices rose by nine per cent in July, the fastest annual increase on record.
A typical fast food meal – with key inclusions consisting of ground beef, bacon, bread, tomatoes, lettuce, chips, mayonnaise and cooking oil leapt by 18.8 per cent from a year ago.
Among G7 nations, Germany had the highest food inflation rate at 14 per cent last month, followed by the U.S. and UK at 13.1 per cent and 12.7 per cent, respectively.