Where are we on the reduction of food inflation?

Press/Media

Description

On the 14th of February the Office for National Statistics (ONS) announced that the overall annual inflation for January 2024 was still at 4 per cent as in December 2023. However, it was also announced that the food inflation figure for January represented the first monthly fall in food prices since 2021 (BBC, 2024). This is very good news as food has been one of the leading sectors contributing to the higher-to-the-target overall price inflation. However, it is better to have a view of annual levels of inflation instead of monthly due to the presence of seasonality.

Subject

Food prices

Period28 Feb 2024

Media contributions

1

Media contributions

  • TitleWhere are we on the reduction of food inflation?
    Media name/outletThe Rowett Institute Blog Post
    Country/TerritoryUnited Kingdom
    Date28/02/24
    DescriptionOn the 14th of February the Office for National Statistics (ONS) announced that the overall annual inflation for January 2024 was still at 4 per cent as in December 2023. However, it was also announced that the food inflation figure for January represented the first monthly fall in food prices since 2021 (BBC, 2024). This is very good news as food has been one of the leading sectors contributing to the higher-to-the-target overall price inflation. However, it is better to have a view of annual levels of inflation instead of monthly due to the presence of seasonality.
    URLhttps://www.abdn.ac.uk/rowett/blog/where-are-we-on-the-reduction-of-food-inflation/
    PersonsCesar Revoredo Giha, Wisdom Dogbe
View all 1
View less