In March, UK inflation continued to hover in the double-digit range as households grappled with the persistently high cost of living. Among the various expenses challenging British consumers’ wallets, the price of an English breakfast has notably soared.
Economic data from the Office for National Statistics showed the consumer price index last month rose by an annual 10.1%, above a consensus forecast of 9.8%. This is a slight dip from 10.4% in February and still at four-decade highs.
Diving deeper into the report, we find the ingredient costs to make a traditional English breakfast are up a whopping 23% in March from last year. This is the most significant increase since Bloomberg created the Breakfast Index, which tracks prices of sausage, bacon, eggs, bread, butter, tomatoes, mushrooms, milk, tea, and coffee last June.
There is good news for consumers. Monthly changes some components in the Breakfast Index are decelerating.
Read More: Soaring Cost Of English Breakfast Shell-Shocks Consumers