Failure to grasp UK inflation drivers will continue to keep prices high
by Phillip Inman from Economics | The Guardian on (#6BWGS)
Energy prices have fallen, and farming and manufacturing costs have eased, so why are food prices still accelerating?
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Inflation is falling, but not as fast as everyone hoped. The Bank of England expected a bigger drop and so did the majority of City analysts.
A fall in the consumer prices index (CPI) to 8.7% in April from 10.1% in March put an end to the UK's long period of double-digit price rises but was not the 8.2% analysts forecast.
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