World News

Inflation explained: why your food shop is seeing double digit price rises

Wage rises have been cited as a major reason why costs have been going up, with hopes of an interest rate cut dashed by above-target inflation and rising unemployment.

If there is good news, it is that the increase was fairly narrow, confined to a few "divisions" of spending.

A major strawberry grower told Sky News his wage bill has risen 11%, and those labour costs make up two-thirds of the price of his crop. That leaves him with no choice but to pass it on to his customers.

Read more: https://news.sky.com/story/why-were-seeing-double-digit-price-rises-in-food-shop-staples-13415063

#skynews #inflation #economy #finance

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