Food and energy costs rise sharply

The boss of Tesco, John Allan, has warned that supermarket prices are set to go up. Allan said groceries could be 5% more expensive by spring. The rise in prices over a period of time is known as inflation. Inflation is at its highest rate for 30 years, which is worrying because some people will find it difficult to afford even basic goods, such as bread, milk and other everyday items. What is inflation? Inflation is when prices rise. It affects people because their money becomes less valuable. For example, if the price of sweets rose overnight but your pocket money stayed the same, you would be able to buy fewer sweets. The rise in inflation is partly because prices are going back up after some of them fell during…

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The Week Junior (Digital) - 1 Issue, 322

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