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Food Prices Increase by 4.7 Percent
24/05/2011
It was recently reported in the National Press that the average cost of a trolley of food rose by 0.7% in just one month to 4.7% in April.
Increases in food have been running consistently above wage inflation for the past 4 years, consequently many families are cutting down on the quantity of food they are purchasing and switching to cheaper branded products.
These figures have been published by the British Retail Consortium who are also suggesting a surprise fall in official Consumer Prices. The impact on food prices to the index inflation rate (which currently stands at 4%) would be higher if it wasn't for supermarket promotions that are currently on offer.
Homeowners aged over 55 years who are worried about rising 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.
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