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Fastest Rise in Prices of Basic Foods in Five Years
01/03/2011
The British Retail Consortium have recently announced that food prices have increased by 2.7% over the past month, this is the biggest single increase in prices for more than 5 years. Over the past year, food prices have increased by 6.3%
Overall, food inflation has grown by 0.6% to 4.6% over the past month, the largest recorded increase in 2 years.
It is anticipated that food prices will continue to rise as supermarkets are currently protecting shoppers over the full extent of the global commodity price rises.
Research by price comparison website MySupermarket.co.uk shows a 35 % annual rise in the price of own-label pasta and 25 % on a baguette. A pack of McVitie’s milk chocolate digestives was up 16 %, and a litre of vegetable oil by 14 %.
Homeowners aged over 55 years who are concerned about the rising food prices and would like to know how much money the value of their property could release to help, can find out by contacting therightequityrelease.co.uk for equity release advice.
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