{"id":64097,"date":"2022-11-10T07:09:48","date_gmt":"2022-11-10T12:09:48","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64097"},"modified":"2022-11-10T07:09:48","modified_gmt":"2022-11-10T12:09:48","slug":"uk-food-inflation-hits-record-high-as-discretionary-income-evaporates-ahead-of-dark-winter","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64097","title":{"rendered":"UK Food Inflation Hits Record High As Discretionary Income Evaporates Ahead Of Dark Winter"},"content":{"rendered":"
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UK Food Inflation Hits Record High As Discretionary Income Evaporates Ahead Of Dark Winter<\/a><\/h3>\n<\/header>\n
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Brits have watched double-digit inflation wipe out any wage gains in one of the worst cost-of-living crises in a generation. Many have gone into debt, paying for things such as food, energy, and shelter. Others have been left with little or no discretionary income ahead of a very dark and cold winter.<\/p>\n

Research company\u00a0Kantar<\/a>\u00a0published a new survey Tuesday that revealed startling food inflation numbers for October that soared at the fastest pace in 14 years.<\/p>\n

Kantar said annual grocery prices rose to 14.7% last month, the fastest since the research firm began tracking prices.<\/p>\n

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Consumers are expected to pay an additional \u00a3682 in their annual grocery bill if they continue buying the same items.\u00a0<\/strong><\/p>\n

The survey found that 27% of all households are “struggling financially,” double the amount from last November. Nine in ten respondents said food inflation is a top concern, while energy bills were second.<\/p>\n

“So it’s clear just how much grocery inflation is hitting people’s wallets and adding to their domestic worries,” Kantar said.\u00a0<\/em><\/p><\/blockquote>\n

Kantar revealed consumers are switching from name-brand items to cheap private-label store brands to save money:<\/p>\n

Own label sales have jumped again by 10.3% over the latest four weeks, as shoppers adopt different strategies to manage their budgets. The branded goods market grew far slower at 0.4%.<\/em><\/p><\/blockquote>\n

In a separate study, the Joseph Rowntree Foundation found a whopping 7 million families have given up on heating, showers, and toiletries this year due to the cost-of-living crisis squeezing discretionary income.<\/p>\n

The Centre for Economics and Business Research, which publishes the Asda tracker, found that after paying taxes for housing, heating, and food, 20% of earners in the second lowest income have nothing left to spend, according to\u00a0Bloomberg<\/a>.<\/p>\n

\u2026click on the above link to read the rest\u2026<\/p>\n<\/picture><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

UK Food Inflation Hits Record High As Discretionary Income Evaporates Ahead Of Dark Winter Brits have watched double-digit inflation wipe out any wage gains in one of the worst cost-of-living crises in a generation. Many have gone into debt, paying for things such as food, energy, and shelter. Others have been left with little or […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[18189,13351,820,2080],"class_list":["post-64097","post","type-post","status-publish","format-standard","hentry","category-economics","tag-food-price-inflation","tag-price-inflation","tag-uk","tag-united-kingdom"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64097"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64097\/revisions"}],"predecessor-version":[{"id":64098,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64097\/revisions\/64098"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}