I read this article today that suggests the recent increase in food cost has added around £750 to the average family’s shopping bill. The article is based upon official figures that show wholesale food prices have risen by 7.4% in the past 12 months, that’s more than three times the rate of inflation. According to the Office of National Statistics the increase in wholesale prices has meant the average consumer pays 12% more for their basket of shopping. I wonder how much truth there is in this. Personally I have noticed that prices of certain products have been creeping up but I have not really noticed a difference in my monthly shopping bill. This may be because I tend to do all of my shopping online and have a fairly strict budget. If I notice the basket total starting to creep up, then I tend to go back and remove any non essential items. Likewise if I find I am well within my budget, because for example I have saved money on special offers, then I will browse around and add a few luxury items that I wouldn’t usually be able to afford. I would be interested to know whether anyone else has noticed any substantial increases in food prices and how this has affected you.
