Average food bill could increase by £271 a year

News / Tue 26th Apr 2022 at 01:46pm

THE average food bill could increase by £271 this year as prices continue to rise, research suggests.

Grocery prices were 5.9% higher in April than a year ago, the biggest increase since December 2011, according to research company Kantar.

It said shoppers were turning to discount retailers Aldi and Lidl as pressures on budgets grows.

Supply chain issues, the Ukraine war and rising raw material costs are all contributing to soaring food prices.

Fraser McKevitt, head of retail and consumer insight at Kantar, said: “The average household will now be exposed to a potential extra £271 per year.

“A lot of this is going on non-discretionary, everyday essentials which will prove difficult to cut back on as budgets are squeezed. We’re seeing a clear flight to value as shoppers watch their pennies.”

The full article can be read below.

https://www.bbc.co.uk/news/business-61223306

2 Comments for Average food bill could increase by £271 a year:

Adam

2022-04-26 15:19:50

Nothing to do with war in Ukraine (Yet) everything to do with creating money and lockdown. With a side helping of insane green targets and goals. It is going to get much much worse as we head towards winter. Inflation is not rising prices, that is the end effect. Inflation is the increase of the monetary base, money does not grow on trees, it is created from thin air if you are a government or banker. 80% of all dollars ever created where in the last 2 years, that has/will find its way into commodities, similarly the UK government has created billions also. Remember to thank our politicians they caused all this but will tell you it was thier action, they will blame everyone else.