Grocery bills increase by 5.8%

Posted 2008-05-29

Grocery prices have increased by 5.8 per cent in May compared with the same month last year.

British shoppers are now spending £514 million a month more on their shopping than in 2007, according to new research from Verdict.

The study also highlighted that groceries now account for 13p in every pound spent by UK shoppers.

"Food shopping is something most people do regularly, so they immediately notice increases in prices more than they do in other areas," said Neil Saunders, consulting director at the company.

The cost of fresh fruit and vegetables has shown the most marked increase, with a rise of 15.9 per cent being noted.

Meat and fish prices increased by seven per cent, while dairy rose by 6.2 per cent.

The increase in wages during the same period was two per cent, according to the study.

Increased food bills could see some consumers resorting to using credit cards and loans to maintain their standard of living.

Meanwhile, credit card provider Egg claims that one in four Brits do not have a financial safety net to help them through an emergency.

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