High food prices becoming ingrained in Australian economy, analyst warns

Economic data shows food and beverage prices still rising faster than long-term average, even as inflationary pressures ease

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High food prices are now embedded in the economy, a retail analyst has warned, after new inflation data released on Wednesday.

Egg prices surged 11% last year, and the cost of cooking oil is up 7%; lamb prices have jumped 17%, while shoppers are paying about 6% more for fruit and vegetables. Beer prices have lifted by 4%.

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