Overall inflation in the EU shows some tentative signs of moderating in the latest figures for the Harmonised Index of Consumer Prices (HICP) from Eurostat for February 2023. From a peak annual rate of inflation of 11.5% in October 2022, the annual rate fell to 9.9% in February 2023. This is entirely due to a fall in energy costs which also reached their peak in October 2022. Food price inflation, however, continues unabated and increased further in February 2023 to an unheard-of annual rate in recent decades of 19.1%. Unfortunately, this high rate of food price inflation looks set to continue for a further period.… Read the rest
Food price inflation gathers pace
