Target Towns: What Grimsby's fish market can tell us about the cost of living

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As the latest UK inflation figures are released, Sky's economics and data editor Ed Conway writes that the cost of fish can tell you much about the picture for prices in the economy.

Often when we talk about statistics like inflation they have a tendency to sound rather dry and boring. After all, data is an abstraction, an aggregation of numbers which often seems quite disconnected with our everyday lives. But prices are ultimately an incredibly important way of measuring what's going on in the economy. They are the critical point where supply and demand meet - where sellers learn how much buyers are willing to pay for an item.

But like everything else in the 'shopping basket' that constitutes the overall inflation rate, fish prices have been on something of a roller coaster in recent years. As the cost of everything else - the fuel for trawlers, the paper for packaging, the wages for fishermen - went up, so too did fish prices. In early 2022, fish inflation was nearly 30%.

 

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