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Life Still Too Expensive
- The British Retail Consortium-NIQ Shop Price Index reported that overall shop prices rose 0.4% in June compared to a year earlier after a 0.1% decline in May.
- This price increase followed last autumn's budget that imposed new costs, while carbon tax hikes took effect at the start of May and continue pressuring consumers.
- Food prices climbed 3.7% in June, driven by high wholesale meat and labor costs plus hot, dry weather harming fruit and vegetable yields, while non-food goods stayed 1.2% cheaper than last June.
- Dominic Lumsden of Peopl Insurance noted food inflation runs at nearly three times the general rate, and he warned “more pain is on the way for consumers.”
- These trends suggest inflation remains a burden for many, especially those without wage increases, and rising costs for essentials could reduce consumer spending later this year.
27 Articles
27 Articles
Officials raise red flags over skyrocketing prices of staple foods: 'Farmers are not under pressure to sell'
The cost of a meat-and-potatoes meal in Uganda is up thanks to shifting weather patterns, according to officials interviewed by the Nile Post, a regional publication. It's a trend that isn't limited to Africa. What's happening? Weather changes are causing sweet potato, cabbage, and beef prices to "edge upward." The vegetables saw a significant jump in May, per the Nile Post. "Season changes have greatly contributed to the price changes for foo…
Why is the price of food rising sharply if inflation is under control?
Sky-high prices for vegetables could rise further due to snowfalls | The Asahi Shimbun Asia & Japan Watch
The record-breaking heat wave in summer has caused vegetable prices to soar, and now, the cold front that has led to heavy snowfalls around Japan could make the produce even more expensive.
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