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SELL YOUR HOME QUICKLYFood prices: The latest casualty of the credit crisis
The shopping trolley is the latest victim of the credit crunch, with Britons’ food expenses increasing by an expected £600 a year. While there has been no doubt that food has become a lot more expensive, the issue at hand is exactly how much more expensive it now is to fill a trolley.
Following in the footsteps of skyrocketing mortgage payments, food price inflation has caused items like pasta to increase by 81 percent, beef by 64 percent, eggs by 40 percent and butter by 62 percent in the last year.
According to the website My Supermarket, the price of an average shopping basket is up by 11 percent compared to a year ago.
The website calculates that a family who spent £100 a week on groceries 12 months ago would now have to pay an extra £572 a year. Add to that the increased cost of heat(ing?), electricity, water, petrol and council tax, and the average family needs an additional £1,500 a year just to keep their living standards on par.