The Blubber

Per Bloomberg

Making an English breakfast just got more expensive as the price of its ingredients skyrocketed in the UK. Now, to make the full meal, people would have to spend around $44.

This comes as UK food inflation has affected the prices of multiple ingredients required to make an English breakfast. This comes as the Bloomberg Breakfast Index showed that every product was more expensive in April compared to a year ago.

The report by Bloomberg noted that this could be a sign that inflation started to slow down in certain categories. Here are some other items that saw a significant increase year-over-year.

• Eggs sold in dozens - 37.6%
• Pint of pasteurized milk - 33.3%
• 800g of sliced, large wholemeal loaf bread - 33.0%
• 250g of a block of butter - 25.9%
• 1kg of bacon - 24.0%
• 1kg of pork sausages - 21.5%
• 250g of tea bags - 19.6%
• 1kg of mushrooms - 7%
• 100g of pure or instant coffee - 5.3%

It was also noted that the average increase was 22.2%. PricewaterhouseCoopers LLP's industry leader for consumer markets, Lisa Hooker, gave a statement on the increase in food prices.

Hooker: “The pace of food price growth barely let up in April... The cost-of-living crisis is far from over, with groceries and leisure overtaking energy prices as the key concern for many households.”

Even in the US, certain items have drastically increased in price, leading to increased smuggling. This was especially true for eggs, as the US-Mexico border saw a 108% increase in egg smuggling during the last three months of 2022 alone.

Toward the end of November, it was also revealed that Americans had to pay more for the traditional Thanksgiving dinner. According to the Farm Bureau, Americans needed to pay 20% more for the whole package, including turkey, stuffing, sweet potatoes cranberries, peas, rolls with butter, a veggie tray, pumpkin pie with whipped cream, and milk and coffee.

See flow at unusualwhales.com/flow.

Other News:

• Egg smuggling is up 108% at the US-Mexico border in the last 3 months of 2022
• Americans have to Pay 20% More for Thanksgiving Dinner

Resources:

Bloomberg