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Podcast: Beyond Currency
Episode: 19 May 2022 - Headline inflation hits 9%, highest in four decades
Description: Headline inflation rose, as predicted, to 9% in April, that is a full 2% higher than it was in March.
The main culprits, over and above energy, were lamb, milk and sugar. Shortages are continuing to push prices higher.
The Office for National Statistics saw 78 of the 80 prices it monitors rise in April.
Many products that are traditionally produced domestically saw significant rises, even more than headline. Butter and milk soared by 11.8% and 13.2% respectively. However, the 54% increase in the energy price cap was by far the most significant increase.
The rise in the cap together with wholesale gas and fuel costs means...