Food prices accelerated at their fastest rate for 45 years last month, with inflation of food and non-alcoholic drinks soaring to 19.2%.

In February the figure stood at 18%.

Food prices overall have increased by 19.6% per year, driven by rising price of bread and cereal (19.4%), meat (17.4%), and fish (16.7%).

Some food items have soared staggeringly in cost – with whole milk up by 37.9% and eggs by 32%.

The price of olive oil has increased by nearly 50% – driven by the Ukraine war.

Veg is up by 19,3% and fruit 10.6%.

The ONS said that  food and non-alcoholic beverage inflation is the highest seen for over 45 years, with estimates suggesting that the rate would have last been higher in August 1977, when it was estimated to be 21.9%.

The overall inflation rate has dropped but stayed in double digit levels.

The consumer prices index dropped to 10.1% in March, down from 10.4% in February, according to the Office for National Statistics.

Hard-pressed consumers are seeing some relief after months of soaring prices. But economists had predicted a fall to 9.8%.

Overall, goods prices rose by 12.8% in the year to March, while services inflation stuck at 6.6%.

Inflation – the rises broken down

  • Food and non-alcoholic beverages: 19.1%
  • Alcoholic beverages and tobacco: 5.3%
  • Clothing and footwear: 7.2%
  • Housing, water, electricity, gas and other fuels: 26.1%
  • Furniture, household equipment and maintenance: 8.0%
  • Health: 7.1%
  • Transport: 0.8%
  • Communication: 3.7%
  • Recreation and culture: 4.6%
  • Education: 3.2%
  • Restaurants and hotels: 11.3%
  • Miscellaneous goods and services: 6.7%

By Asher McShane

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