Food bills on the rise by nearly 12 per cent in fastest increase since 2008 - The Evesham Observer

Food bills on the rise by nearly 12 per cent in fastest increase since 2008

Evesham Editorial 17th Aug, 2022   0

SHOPPERS have seen their food bills go up at the fastest rate since the global financial crisis as the cost of basic food items continues to surge.

Prices have shot up 11.6 per cent, driven by spikes in the prices of butter, milk, and chicken, according to new data.

Research firm Kantar said this equates to a £533 annual rise in the average UK household’s bill – or £10.25 each week.

The increase over the past four weeks is the fastest since Kantar began keeping tabs in 2008.




Fraser McKevitt, head of retail and consumer insight at Kantar, said: ‘As predicted, we’ve now hit a new peak in grocery price inflation, with products like butter, milk and poultry in particular seeing some of the biggest jumps.

‘This rise means that the average annual shop is set to increase by a staggering £533, or £10.25 every week, if consumers buy the same products as they did last year.


‘It’s not surprising that we’re seeing shoppers make lifestyle changes to deal with the extra demands on their household budgets.’

 

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