The cost of making brunch has risen considerably over the past year as the prices of everyday items have grown with inflation.Credit:Jamie Brown
In the three months to the end of March,inflation rose by 1 per cent,driven in part by food and non-alcoholic beverages.
While it was a main contributor to both quarterly and annual inflation,price increases for food and drinks have continued to ease. It fell to 3.8 per cent in the year to March,down from 4.5 per cent in the year to December and well below the 9.2 per cent peak in December 2022.
Prices rises for bread,cereals and eggs are still high,but are starting to ease,and meat prices continue to track down. Fruit prices have even gone backwards,thanks in part to the seasonal nature of fresh produce.
Does falling inflation mean a cheaper breakfast?
Unfortunately,not necessarily. A lower rate of inflation means prices are rising at a slower pace,not that prices are falling (of course,if the rate of inflation is negative,that means prices have eased slightly).
This is why ongoing high inflation is bad - prices for goods and services get set at higher levels,so excluding discounts or sales it means those products will always cost more than previously.