16.06.2022, 12:52
Media: UK Food Prices May Rise Record Highly Due to Anti-Russian Sanctions
Source: OREANDA-NEWS
OREANDA-NEWS Food prices in Britain may rise by a record 15% this summer amid the sanctions imposed on Russia and Brexit, the Guardian newspaper writes.
According to the newspaper, the strongest inflation will affect meat, cereals, vegetables and fruit. At the same time, chicken, pork and bakery products rise in price most rapidly. This is related to the problem of grain exports from ports of Ukraine and the anti-Russian sanctions. Another reason was the ban on the import of palm oil, introduced by Indonesia, and the ban on the export of wheat, introduced by India, the authors of the article write.
Inflation is expected to last until the summer of 2023, but it may extend.
According to the U.K. Bureau of National Statistics, annual inflation in the kingdom in April was the highest since March 1982 at 9% versus 7% a month earlier. Consumer prices rose 2.5% in April after rising 1.1% in March. In March 1982, Britain recorded an inflation rate of 9.1%.
According to the newspaper, the strongest inflation will affect meat, cereals, vegetables and fruit. At the same time, chicken, pork and bakery products rise in price most rapidly. This is related to the problem of grain exports from ports of Ukraine and the anti-Russian sanctions. Another reason was the ban on the import of palm oil, introduced by Indonesia, and the ban on the export of wheat, introduced by India, the authors of the article write.
Inflation is expected to last until the summer of 2023, but it may extend.
According to the U.K. Bureau of National Statistics, annual inflation in the kingdom in April was the highest since March 1982 at 9% versus 7% a month earlier. Consumer prices rose 2.5% in April after rising 1.1% in March. In March 1982, Britain recorded an inflation rate of 9.1%.
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