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Droughts and Floods Force Food Prices up by 6 Percent

According to the British Retail Consortium (BRC), the cost of food rose by 5.7% in June, compared with statistics taken from a year ago.  Pressure has been put on global supply chains as a result of floods in southern Asia, droughts in central Asia, Russia, North America and China and cyclones in Australia.

Household budgets are now so tight that more than a third of groceries bought are on offer from increasingly struggling retailers.  39% of sales from grocery shopping is from products on promotion.



Food prices have risen by 0.6% in the last month.



Homeowners aged over 55 years who are worried about increasing food prices and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice