Food price rises slow as UK inflation remains at 3.8%
The article discusses the latest inflation figures in the UK, which show that food price rises have slowed, although the cost of certain items, such as red meat and chocolate, continues to increase. According to the data, the overall UK inflation rate remains at 3.8%, which is significantly higher than the Bank of England's target of 2%. While the rise in food prices has slowed, this is partially offset by the continued increase in the cost of some food items. The article highlights that the ongoing supply chain issues and the war in Ukraine have contributed to the elevated inflation levels in the UK. However, the Bank of England is expected to continue its efforts to bring inflation back to the target level through interest rate hikes and other monetary policy measures.
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