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quite a number of years. but both sides willjump at it and such selectively to quotes no doubt, and at the end of the day, the overall system will not be reformed, because i can give you lots of examples of my own cases involving the f oeajs over the last two, three decades —— over the fbi. they lead tojudgement and decades —— over the fbi. they lead to judgement and ends decades —— over the fbi. they lead tojudgement and ends up being absolutely nothing. that is probably both of our governments the intelligence services and in law enforcement, that is why independent oversight is necessary to prevent something like this. but does this report make any difference? i don't think it will.— think it will. we appreciate our think it will. we appreciate your analysis. _ think it will. we appreciate your analysis. thank - think it will. we appreciate your analysis. thank you . think it will. we appreciate | your analysis. thank you for that story. the uk prime minister will meet with agriculture leaders and food retailers today to discuss how the uk can build resilience in the farming industry and boost domestic fruit and veg production. the meeting at downing street — dubbed the farm to fork summit —
that's the highest rate in a0 years, and five times the bank's target of 2%. our economics editor faisal islam reports. red grape, green grape... grab them before they are gone! m0 them before they are gone! no clearer place to see the price shock than with helen at the fruit and veg market. dar; shock than with helen at the fruit and veg market.- fruit and veg market. day by da at fruit and veg market. day by day at times _ fruit and veg market. day by day at times things - fruit and veg market. day by day at times things have - day at times things have increased, decreased. one week, it is tomato. this week particular as broccoli. we won't have it in the store because we don't think it is justifiable, the price that it is for people to pay. people can't afford _ is for people to pay. people can't afford it? _ is for people to pay. people can't afford it? no, - is for people to pay. people can't afford it? no, no. - can't afford it? no, no. inflation is proving sticky in stroke and well beyond. this is what bank of england forecasts .2. inflation, that weight —— at the rate at which prices rise, coming down from 10% but still remaining about 5% by the end of this year and remaining high next year as well. the bank of england put this on food prices which are rising to
grape, your green grape, or your beautiful raspberry — grab �*em before they've gone! the cost of food is soaring at a as—year high, with prices of some fruit and veg up by a third. that's the problem. we do find week by week it changes. so you can normally tell the first week where people have been paid, they come, they do their shopping, they get what they need. and as the month goes on towards when the next payday is, it slows down a little bit and they're coming and perhaps not treating themselves to maybe the extra punnet of strawberries. i think it is literally, right, i've bought potatoes because i need that for my dinner, i've got the veg to go with it, i can feed my family. but with the cost of living continuing to rise too fast, difficult decisions are being made. yesterday, the bank of england pushed interest rates to their highest level in nearly 15 years, to 4.5%. it's meant to discourage us from spending, which in turn should bring down prices. but for millions of people, it now means higher repayments on their mortgages or loans. it could be £200 a month more.
our economics correspondent andy verity reports. from alex's business, to barry's fruit and veg, in grainger market in the heart of newcastle, over 80 small businesses here are struggling like the rest of the economy to grow their businesses has consumers face food price inflation of 19.2% rein in their spending on everything else. sara lee started selling gifts just one week before lockdown. the last three years have been a struggle, she says, with expansion plans on hold. struggle, she says, with expansion plans on hold-— plans on hold. with everything happening _ plans on hold. with everything happening in _ plans on hold. with everything happening in the _ plans on hold. with everything happening in the last - plans on hold. with everything happening in the last three - plans on hold. with everything i happening in the last three years it's held us back slightly so we are hopefully maybe next year or the year after thinking of a larger unit to have things like that but we've got to wait and see.— got to wait and see. nearby is matthews _ got to wait and see. nearby is matthew's coffee _ got to wait and see. nearby is matthew's coffee shop. - got to wait and see. nearby is matthew's coffee shop. he's l got to wait and see. nearby is - matthew's coffee shop. he's recently had to put his prices up but says his customers are supportive. people want to start —
his members are urging him to escalate, go harder and fasterfor future action. so they're not really that out. rmt as well have a mandate possibly for up to six months more strict action if they see fit. at the moment they are no real easy ways out. no real solution on hand and unfortunately more frustration and unfortunately more frustration and it seems from the travelling public of the next few weeks at least. ., ~' , ., public of the next few weeks at least. . ,, , ., ., ., ,, least. thank you for taking us throu~h least. thank you for taking us through all— least. thank you for taking us through all of— least. thank you for taking us through all of that. _ least. thank you for taking us through all of that. strike - least. thank you for taking us i through all of that. strike action was just one of the factors cited in contributing to weak economic growth during the first three months of the year here in the uk. the uk economy grew byjust 0.1 % betweenjaunuary and march, according to the office for national statistics, though it did avoid recession. here's our economics correspondent, andy verity, reports. from alex's business, to barry's fruit and veg, in grainger market in the heart
he has made. but we have seen what has happened on the streets in 70 different part of pakistan since tuesday's arrest. important to hear what he says when he emerges. whilst we wait, let it into the uk economy. the uk grew only weakly in the first three months of the year with the economy hit by strikes, cost of living pressures and wet weather. the economy grew byjust 0.1% between january and march, according to the office for national statistics, though it did avoid recession. here's our economics correspondent, andy verity, reports. from alex's venus, to barry's fruit and veg. —— alex's business. they are struggling like the economy to grow their business as consumers face food inflation and reign in
and the bank raised rates to try to damp it all down. and then this steep fall after the crash, with the bank of england trying to save the economy by slashing rates. for more than a decade, we all became used to being able to borrow cheaply, as they kept rates artificially low. they were cut even further during the pandemic to just above zero. and then this sharp rise, as rates jumped 12 times in less than 18 months. here's our economics editor faisal islam. two for £1 two for e1 on the grapes or raspberries, grab them before they've gone. m0 raspberries, grab them before they've gone-— raspberries, grab them before they've gone. raspberries, grab them before the 'veaone. . ., they've gone. no clearer place to see the price _ they've gone. no clearer place to see the price shock— they've gone. no clearer place to see the price shock than - they've gone. no clearer place to see the price shock than with - they've gone. no clearer place to i see the price shock than with helen in the hanley fruit and veg market. day by day, things have increased, decreased. one week it is tomatoes, this week particularly its broccoli. broccoli we won't have in the store because we don't think it's justifiable, the price that is, for people to pay.
me, strawberries. a hint that summer is on the way. and over here, we have potatoes. this is being well looked after. it does not happen by itself. it is tended by trish, whose plot this is. what you get out of this? it plot this is. what you get out of this? , , ., , ., plot this is. what you get out of this? , , ., , , this? it gives people a focus, they aet out in this? it gives people a focus, they get out in the _ this? it gives people a focus, they get out in the fresh _ this? it gives people a focus, they get out in the fresh air, _ this? it gives people a focus, they get out in the fresh air, get - get out in the fresh air, get exercise and the bonus of fresh fruit and veg. i exercise and the bonus of fresh fruit and veg.— exercise and the bonus of fresh fruit and veg. i will leave you to car on fruit and veg. i will leave you to carry on tending _ fruit and veg. i will leave you to carry on tending that. _ fruit and veg. i will leave you to carry on tending that. the - fruit and veg. i will leave you to i carry on tending that. the problem is the cost of having an allotment around the country is rising. we will come onto the detail in a moment. dave, he also works on this plot. how do you feel about the price going up?— plot. how do you feel about the nutriceoin u? , ., ,, ., price going up? obviously not happy because this — price going up? obviously not happy because this has _ price going up? obviously not happy because this has been _ price going up? obviously not happy because this has been salvation - price going up? obviously not happy because this has been salvation for. because this has been salvation for me after being retired. it has got
rate at which the average price rises are going up, significantly above the bank of england's target of 2%. it surprised many economists, because price rises had started to slow down. this the office for national statistics said shortages of some food items in february, particularly some fresh fruit and veg, has pushed prices up. food prices are now at a its—year high, and rising much faster than the general rate of inflation. the price of pasta for example has doubled in two years. but there is some good news. in the last week or so a number of supermarkets have reduced the cost of a pint of milk for the first time in more than a year. but it's still double what you'd have paid back in 2020. lets find out how it's affecting some of the traders here and the business that they supply. we have