Food, glorious food - The EU’s (and BBC’s) cost of living crisis

Inflation – lower in Brexit Britain than in the EU

Montage © Facts4EU.Org 2022

The most commonly used measure of inflation shows that things are worse in the EU

When the latest inflation figures came out on Wednesday (22 June 2022), many of ‘the usual suspects’ were quick to insinuate that Brexit was to blame – at least in part. Those who made international comparisons – such as the BBC – failed to show that the EU has even worse problems.

Facts4EU.Org has analysed the UK’s results and compared them to the picture across the EU. The results are very interesting.

The ONS say: “CPIH is our preferred measure of consumer price inflation” – so that is what we have used.

Brexit Facts4EU.Org Summary

Consumer Prices Index including owner occupiers' housing costs (CPIH)

Annual increase – latest figures released for May 2022

UK : 7.9%
EU : 8.8%

[Sources: UK Office for National Statistics (ONS) and EU statistics agency (Eurostat).]

How did the BBC cover this story?

On Wednesday the BBC’s coverage of inflation figures focused on the cost of food.

Here is their opening paragraph:-

“Prices are continuing to rise at their fastest rate for 40 years with food costs, particularly for bread, cereal and meat, climbing.”
- BBC, 22 June 2022

Whilst the BBC made international comparisons in its report, strangely it did not mention the EU. Facts4EU.Org is therefore happy to put this right for them.

The figures below show one essential element in the rising cost of living: that of food prices, as this was specifically highlighted by the BBC, amongst others.

Brexit Facts4EU.Org Summary

The price of a loaf of bread – and all other food and non-alcoholic drinks

Annual increase – latest figures released for May 2022

UK : 8.7%
EU : 10.0%

[Sources: UK Office for National Statistics (ONS) and EU statistics agency (Eurostat).]

General explainer - How is inflation measured these days?

There are now three different measures of inflation: Household Cost Indices (HCIs) saw similar inflation rates as the Consumer Prices Index (CPI) and the Consumer Prices Index including owner occupiers' housing costs (CPIH) at the end of 2021, reflecting common drivers of inflation.

All three measures of consumer price inflation have seen sharp rises since March 2021. The last of these - Consumer Prices Index including owner occupiers' housing costs (CPIH) – led the summary in the ONS’s report. It is commonly used in both the UK and in the EU so our main comparison above focuses on this measure.

Observations

If western governments throw debt-fuelled money at their Covid-19 measures on unprecedented levels for two years, it should come as no surprise to anyone that the inflationary pressures would inevitably come home to bite.

When added to the effects on prices of Putin’s illegal invasion of Ukraine - on the costs of energy, grain, fertiliser and sunflower oil - we are now in a perfect storm.

Inflation has become a serious issue for many households across the United Kingdom. That said, if the BBC want to make international comparisons then we might expect them to compare the UK with the EU, as they so often do.

Not on this occasion. And the basic facts in our report above show why.

“Oops, we did it again” (With apologies to Britney Spears)

Things will get worse before they get better, but the simple fact is that once again Brexit Britain is outperforming the European Union.

Talking of the cost of living...

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[ Sources: Office for National Statistics (ONS) | EU Commission statistics agency (Eurostat) ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Sun 26 June 2022

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Reader Comments 7

1. Fred Dawson , Sunday, June 26, 2022, 07:53:

The BB€ knowingly undermines Brexit..much like the rest of the Remainiac London-centric luvvie(s) bubble. That said, Boris and his Govt really do need to robustly forge ahead with Brexit...take control.

2. Sheila Traynor , Sunday, June 26, 2022, 11:55:

So much for ‘ it’s because of Brexit’

3. Timothy Sprake , Sunday, June 26, 2022, 12:09:

Just come back from 2 weeks in France..and it's bleddy exspensive!! A cucumber in a supermarket was £1.50 and fuel was averaging of around £2 a litre. So yeah, not just little Britain is it.

4. Robert Dunn , Sunday, June 26, 2022, 13:04:

It's not news worthy if they can't bash the UK

5. Adam , Sunday, June 26, 2022, 21:13:

So tired of the Remoaners running this Country down it's mouthpieces the BBC and Sky are unwatchable drivel this PM is on borrowed time in office We Brexiteers must not allow Tory infighting scupper our newly regained Self Governance by allowing Sir Starmer and his anti-British fool's into Government I am a sdp member this Government must reshuffle ditch Sunak and replace Him with someone like John Redwood, Priti Useless Patel must go We need to withdraw from the UN ECHR and WHO

6. jon livesey , Sunday, June 26, 2022, 22:41:

5. Adam You have some good points, but any mention of John Redwood fills me with unease. On the topic of taxes, Redwood seems to be a very simplistic thinker to whom you always need low taxes, and low taxes are all you need. I think that low taxes are better than excessively high taxes, but when Redwood gets going, it seems that all you need to do is reduce taxes and the economy will magically take off. In reality life is much more complicated than that.

7. Bob , Monday, June 27, 2022, 20:44:

Just to get things in perspective: France had 5.2% inflation in May.

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