In today’s newsletter: Cocoa shortages, climate shocks and global conflicts have collided to make chocolate pricier than ever before
Good morning. Today is Good Friday – if you are following the western church calendar, at least – which still leaves time to panic-buy Easter eggs. While you are doing that, you will almost certainly leave with the impression that you are paying more for less. Why?
Shrinkflation is the answer. The chocolate economy has been hit by a series of shocks over the past few years, meaning the pound in your pocket now buys a lot less cocoa than it once did.
Middle East | Emmanuel Macron has sharply criticised Donald Trump’s inconsistent pronouncements on the Iran war and Nato, saying if “you want to be serious” it was better not to come out with something different every day.
UK politics | Yvette Cooper said coordinated action was needed as more than 40 countries gathered to discuss “every possible diplomatic, economic and coordinated measure” to pressurise Iran into reopening the strait of Hormuz.
NHS | The NHS is bracing for the longest strike yet by resident doctors after last-ditch talks failed, prompting Wes Streeting to accuse the medics of suffering from “delusion”.
Reform UK | Reform UK’s housing spokesperson has been sacked from his role after he described the Grenfell Tower fire as a “tragedy” but said that “everyone dies in the end”.
Weather | The UK is bracing for Storm Dave over Easter with winds up to 90mph expected.
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