this is a nato reporter brian chong breaks down the numbers. inflation picked up steam over the beginning of 2022, clocking in at 9% in june, the fastest pace of price increases since the 19 80s. food prices soared, a gallon of milk averaging $4.22. chicken, $1.84 per pound, and it doesn t grade a eggs $2.49. gas prices topped $5 per gallon in the summer before tilting below $3.50 in the later part of the year. rent, the biggest spent for most households, jumped 7% 8%. inflation showed times of backing off of the litter parts of the year as federal reserve accelerated the pace of interest rate increases. one quarter of a percentage point. a half percentage point. the fed continued to raise rates at that piece, a speed not seen in decades. the idea was to make lowering costs expensive enough to slow the economy and inflation,
overall inflation picked up steam over the beginning o 2020, to clocking in at 9% i june, the fastest pace of pric increases since the 19 80s food prices soared, a gallon o milk now averaging $4.22 chicken, $1.84 pound, and dozen great a egg $3.59 dozen. all more expensive than this time last year gas prices topped $5 a gallo in the summer before childre below $3.50 in the later par of the ear and then rand, th biggest express our most hel souls joining seven to 8%. inflation did show - in the later part of the air a the federal reserve exhilarate the base of its interest rat increases. one quarter point, thre quarters of a percentage point the fed continue to raise rates at that pace, a speed no seen in decades. the idea, to make borrowin costs more expensive to slow the economy, and inflation among the sharpest slowdowns i the housing market were home
the new year. if you can believe it. and as we prepare to close out 2022, it s been a big year for the economy. we saw record gas prices, the fastest jump in decades, and massive tech layoffs. even farewell to the choco taco. our own brian cheung has a look back at the year s biggest business news. inflation picked up steam over the beginning of 2022, clocking in at 9% in june. the fastest pace of price increases since the 1980s. food prices soared. a gallon of milk now averaging $4.22. chicken, a $1.84 a pound. and a dozen grade a eggs $3.59 a dozen. all more expensive than this time last year. gas prices, topped $5 a gallon in the summer. before tilting below $3.50 in the later part of the year. and then rent, the biggest spend for most households jumping 7 to
holding your breath as you fill up at the pump has become part of life since fuel prices began increasing earlier this year. but in hawes in north yorkshire, there s a sigh of relief from motorists using the community garage. fuel at least iop cheaper than the nearest competitors. i m just visiting friends here, so it is low. it s about £1.84 i think, at home, so it s considerably cheaper. i m not really empty, but i m taking advantage of this price, what it is. and would you come out of your way to come back here? probably, yes. there are no other fuel. stations anywhere nearby, so it s really important- that there is something locally because otherwise it makes living and working in the dales - just that much more difficult. the garage is leased by the upper dales community partnership, a not for profit company. more than 200 shareholders have invested. we are very, very prompt to move our prices according to the wholesale prices we re charged. so if the prices go up,
months tojune. it is rising exponentially. and it is staple foods. milk up 26% on last year, butter up 21%, spring water and flour up by almost a fifth. and then of course there s petrol the war in ukraine has pushed the average price of a litre of unleaded to £1.84 a litre. that s up almost 60p on last year. so with the prices rising at record rates, do we really have seven weeks to spare for the conservative members to decide who they want? here s money saving expert martin lewis. by the time a new prime minister is in post on september 5, a couple of weeks before, we will have had an announcement over the increase in the energy price cap, which is currently protected to be up 65%. that s up 65% on top of the 54% we saw in april, and that will take a typical energy bill up another £1,200 a year to around £3,240, which will see inflation rocket way beyond anything that we have right now. and that is going to cause panic, impact people s mental health and, unless it s sorted, impa