Business

Half of Britons buy less food as prices soar during the cost-of-living crisis | UK News



Almost half of Britons have cut spending on food as prices soar, official statistics show.

About 49% of people surveyed by the Office for National Statistics said they bought less food than usual between June 22 and July 3.

This is up from 8% among those polled last September.

Another 48% said they were forced to spend more than usual on food purchases.

Overall, 91% of the 2,300 participants said Cost of living has increased in the past month.

Nearly all attributed this to rising feed costs (95%).

Other reasons given were soaring energy bills (83%) and fuel prices (79%).

Read more:
See what prices have gone up – and surprising luxuries that have fallen

The most common steps taken to tackle this problem are spending less on non-essentials (reported by 62% of people), using less energy at home (53%), cutting back unnecessary trips by car (46%) and more shopping around (38%).

The figures reinforce reports from UK supermarkets that shoppers are under growing financial pressure.

Listen and subscribe Podcast of Ian King Business here

Sainsbury’s said on Tuesday that its underlying quarterly sales fell 4%.

Tesco, the largest supermarket in the country, said customers are buying private-brand items cheaper and making smaller, more frequent trips.

Last week, US bank Citi predicted food price inflation to exceed 20% early next year.

Inflation hit 9.1% in May and is forecast to reach 11% this fall.



Source link

news7g

News7g: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button