Inflation increases with the rising cost of food and wine



[ad_1]

Glbad and bottle of wine

Copyright of the image
Pennsylvania

The rising cost of food and alcohol helped drive up inflation in February.

The rate of price change, measured with the help of the Consumer Price Index (CPI), rose from 1.8% in January to 1.9%.

"The inflation rate is stable, with moderate increases in food, alcohol and tobacco prices being offset by lower prices for clothing and footwear," said the statistician. ONS, Mike Hardie.

This is the first rise in inflation since August 2018.

The duty on a bottle of wine increased on February 1, which resulted in an 8-pound increase in the price of a bottle. The increase in taxes was announced in the fall budget, along with an increase in tariffs on certain high-strength sparkling ciders.

Inflation fell slightly in January after setting up a cap on domestic energy prices.

The Bank of England aims for an inflation rate of 2%. The rate of increase reached a five-year high of 3.1% in November 2017 and a final high of 1.8% in January 2017.

The ONS said real estate prices in January had risen 1.7% a year in the UK, the smallest increase in nearly six years.

[ad_2]
Source link