0:00
The cost of everything seems to be
0:01
soaring. So why is inflation only at 3%.
0:04
And what does this chocolate frog have
0:05
to do with it? Inflation hit 3.4% in
0:07
December last year according to the
0:09
Office for National Statistics. This is
0:10
the first increase in 5 months and has
0:12
surprised economists. That's mainly
0:14
driven by the cost of airfares, tobacco,
0:16
and food. The rate of inflation measures
0:18
the speed at which things are getting
0:19
more expensive. The headline figure
0:20
takes into account the cost of a huge
0:22
range of goods and services like
0:24
insurance, household repairs, and even
0:25
driving lessons. But people often feel
0:27
the most pain from the cost of food,
0:29
which has climbed to a much higher 4.5%.
0:31
Sugar, coffee, and butter are some of
0:33
the foods which have increased in cost
0:35
the most over the last year, each rising
0:37
by more than 8%. But even these numbers
0:39
don't begin to explain why prices have
0:41
boomed in the last few years. Because
0:42
inflation is calculated year-on-year,
0:44
today's 3.4 inflation figure only
0:46
compares prices in December 2025 to the
0:49
same time the year before. If you look
0:50
at the trend in prices over the last 5
0:52
years, the picture becomes much clearer.
0:54
According to government figures, Brits
0:55
spent £33 each on food and drink every
0:58
week in the 201920 financial year. In
1:00
2023 24, the average Brit spent £47 per
1:04
week, a nearly 50% increase. And while
1:06
official inflation figures attract the
1:08
attention of journalists and
1:08
politicians, there's an even more
1:10
important benchmark for soaring prices,
1:12
the Humble Fredo. While the iconic
1:13
chocolate frog cost 10p each in its
1:15
1990s heyday, the snack will now set you
1:17
back anywhere between 30p and a
