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The cost of everything seems to be
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soaring. So why is inflation only at 3%.
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And what does this chocolate frog have
0:05
to do with it? Inflation hit 3.4% in
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December last year according to the
0:09
Office for National Statistics. This is
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the first increase in 5 months and has
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surprised economists. That's mainly
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driven by the cost of airfares, tobacco,
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and food. The rate of inflation measures
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the speed at which things are getting
0:19
more expensive. The headline figure
0:20
takes into account the cost of a huge
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range of goods and services like
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insurance, household repairs, and even
0:25
driving lessons. But people often feel
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the most pain from the cost of food,
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which has climbed to a much higher 4.5%.
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Sugar, coffee, and butter are some of
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the foods which have increased in cost
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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
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boomed in the last few years. Because
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inflation is calculated year-on-year,
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today's 3.4 inflation figure only
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compares prices in December 2025 to the
0:49
same time the year before. If you look
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at the trend in prices over the last 5
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years, the picture becomes much clearer.
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According to government figures, Brits
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spent Β£33 each on food and drink every
0:58
week in the 201920 financial year. In
1:00
2023 24, the average Brit spent Β£47 per
1:04
week, a nearly 50% increase. And while
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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