Households Battle As Prices Rise In The Supermarkets
Bread, milk and cooking oil, amongst other staple items, have heavily increased over the last couple of months. As inflation looms it is proving tougher and tougher for some households to be able to afford certain necessities.
The price of bread has increased over 2.5% since February and is now more than 5.5% more expensive than it was just a year ago. Lamb has also seen similar increases, which was accentuated due to the demand around Easter time, but it was a staggering 16% more expensive than Easter last year.
Supply chains, war and the recovery from the pandemic have all come together to cause a perfect storm in terms of inflation and we will find out how the government plan to attack the situation in the coming weeks and months. One thing is for certain is that this problem is not going away and it is to take an almighty effort to help households become sustainable and this is without discussing the rising fuel rates and energy bills, which has been well documented.
One in eight adults had reportedly gone without heating, water or electricity between January and March and with the issues highlighted the light at the end of the tunnel seems distant so action is needed urgently.
Fresh milk is over 13% more expensive than this time last year, pork is at over 5% and cooking oils are up 7%. Food price inflation is at its highest level for 10 years and the global issues are set to maintain so we are to see yet further rises over the course of the year.
We have seen retailers trying to combat the issues in what way they can and this is, in large, expanding their value ranges and to make necessities as accessible as possible for the households that are in desperate need.
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