0:00
Now, there's been a surprise drop in
0:01
food and drink inflation, but this could
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be short-lived with the full impacts of
0:05
the war in Iran yet to be fully felt.
0:08
That's in contrast to fuel prices, which
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were hit by the effective closure of the
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Strait of Hormuz almost immediately.
0:14
That's according to worrying new
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warnings from industry figures. What do
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these figures tell us?
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>> So, we saw a surprise drop in food
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inflation to 2.2% from 3% uh in the
0:25
month before. And food actually is one
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of the main things that's dragged down
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inflation to stick at this 2.8 headline
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level. The food and drink
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um industry figures that I speak to say
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that while that's good news, it won't
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last for long. They expect food and
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drink inflation to jump in a few months,
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and they point to the shock after
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Russia's invasion of Ukraine in 2022,
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where it took quite a few months for
0:48
food inflation to overtake the headline
0:50
rate of inflation, but then we got to
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19% food inflation into the start of
0:55
>> So, for those of us who looking for a
0:57
cheap lunch, what is the cheapest lunch
1:00
I can put together right now?
1:02
>> So, I think we could make a focaccia
1:05
made up of olive oil and flour, and
1:07
serve that with some jam on top, and
1:10
>> Because, of course, olive oil is
1:12
bizarrely actually coming down in price.
1:14
>> It is, yes. We had a olive oil tycoon in
1:17
the bus of Filippo Berio a few months
1:18
ago slamming supermarkets for taking the
1:20
mickey by not passing on prices. But
1:22
yeah, we've had some good harvests uh
1:26
>> And what would be the most expensive
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lunch I can make for work?
1:28
>> That would be veal served with preserved
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fruit for dessert, and whole milk.
