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Podcast: Beyond Currency
Episode: 25 April 2023 - Food inflation at a 45yr high
Description: The inflation rate is still above 10% despite the Bank of England having hiked short-term interest rates eleven times in succession and is set to hike again at its next meeting on May 11th.
While the headline is still far too high for the Central Bank’s liking. Component parts are also alarming. Food price inflation is at its highest in 45 years, reaching 19.2% in the twelve months to March, up from 18.2 a year earlier.
The Monetary Policy Committee is being accused of showing a significant lack of imagination in using tried and, to date, tested methods to try to counter rising pr...