The Stage 2 point is the one that matters — and there's a second wave behind it. Producer food prices are still +0.0% y/y against energy's +35.6%. Historically food inflation peaked about two months after energy at roughly a fifth the amplitude, so the grocery bill has its own chapter still to write.
The Stage 2 point is the one that matters — and there's a second wave behind it. Producer food prices are still +0.0% y/y against energy's +35.6%. Historically food inflation peaked about two months after energy at roughly a fifth the amplitude, so the grocery bill has its own chapter still to write.
Thank you for staying on top of this Peter.
I read this bad news and literally thought, “I’m going back to bed”. Ugh.
Probably the wisest approach!