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Inflation falls to 4,4%, food remains expensive
Inflation fell sharply in March and stood at 4,4%. This means that the price increase on an annual basis is the lowest since seventeen months. This is evident from the first, rapid estimate by Statistics Netherlands. The inflation rate for food is barely decreasing at 15%.
In February Inflation actually rose again to 7,6% after falling in January (8%). Food was 15,1% more expensive in February than one year previously. In January it was 14,5% and in December 2022 14%.
Energy and fuels cheaper
Energy and fuels play a major role in the fall in inflation. In February, energy and fuel were 1,1% cheaper than one year previously. Last month, 28,2% less was paid for energy and fuel than in March 2022. The last time inflation was lower than the current level was in October 2021. Then inflation was 3,4%. The highest annual price increase was measured in September 2022: 14,5%.
Britons are experiencing record food inflation
The United Kingdom saw record food inflation in March, according to data from market research firm Kantar. The 17,5% rise in food prices is the highest ever recorded in the UK. The prices of eggs, milk and cheese rose the fastest. On an annual basis, Britons spend an average of £873 more on groceries, at least if they keep putting the same amount in their shopping basket.
Linda van Eekeres
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