“Our productivity has grown more slowly than almost all of our peer G7 economies” Newsnight’s economics editor BenChu_ looks at the potential reasons behind the UK’s declining economy
Energy, petrol and diesel costs are also contributing to inflation. But food and non-alcoholic drinks were the largest contributor to rising prices in July, according to the ONS.
"Things like the dentist and getting my hair cut are pretty much a no-no, but my parents have helped out with that when I've gotten desperate." Some commodities, especially grain and edible oils, have eased substantially, but there is typically a time lag of around six months before that feeds through to prices on the shelves.
Driving up the average rise between June and July were food prices - everything from bread and cereals, up by an annual 12.4%, to milk cheese and eggs, up 19.4%, to oils and fats, up 23.4%.
Danmark Seneste Nyt, Danmark Overskrifter
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