Sunak's inflation arguments 'are not the right ones' says Clarke
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Fry-up ingredients – including bread, butter, eggs, sausages, bacon, coffee and tea – set shoppers back an average £19.39 this month, according to retail research company Assosia. It used average prices for branded breakfast goods across Tesco, Sainsbury’s, Asda and Morrisons to reach the staggering figure, which has risen more than £3 compared to the same period last year.
The average price for an own label basket of breakfast ingredients is £11.70, up from £9.84 for 2021, according to Assosia’s number-crunching.
Retired security worker, Eric Taylor, 62, told Express.co.uk the cost of staples in the shops meant it is now cheaper to get breakfast at his local eatery, Titanic Cafe in Ilford, east London.
Mr Taylor said: “I don’t buy cereal now. It’s gone up to £4 a pack. Butter’s gone up. My favourites have gone up by £1 or £2. Everything has gone up. A £28 bill last week will be £35 to £36 this week.
“It’s cheaper to get a full English down the cafe.”
A traditional English breakfast at Mr Taylor’s local cafe costs £5.95 for an egg, bacon, sausage, beans or tomatoes, two slices of toast and tea or coffee.
Titanic Cafe owner Eric Oran told Express.co.uk: “Even though it’s quite challenging because of price rises, we try to keep [prices] at a minimum.
“We get things in bulk so we get a better deal. When you get [our English breakfast] you pay for single items, rather than buying a lot of products which may or may not be used. There’s more likely to be waste, unless you’re a big family.”
However, he admitted inflation had made keeping prices down challenging.
Mr Oran said: “What makes us unique is we are a community cafe [where] good food and service go hand in hand. We try to keep [prices] to a minimum for our customers.”
Earlier this week, the Office for National Statistics (ONS) revealed the Retail Price Index (RPI) leapt to 12.3 percent while the broader Consumer Price Index (CPI) inflation figure hit a new 40-year-high of 10.1 percent.
Rocketing inflation saw interest payments on Government debt jump by almost 40 percent last month, with borrowing in July hitting £4.9billion, official data shows.
Debt interest payments climbed to £5.8billion in July, rising from £3.5billion in the same month last year due to increases in RPI inflation.
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Michal Stelmach, senior economist at KPMG UK, said: “The balance of risks to public finances has clearly shifted to the downside.
“The cost-of-living crisis will likely require further support to households, while a slowing economy will put downward pressure on receipts, making the fiscal targets ever less achievable.”
Mr Taylor, from Ilford, east London, said he was fortunate enough to be okay financially at the moment.
He added: “I’m not filthy rich. If this continues for a year all my savings will dry up and that would concern me.”
Police worker Liz Wright, 49, from Dagenham, said she had switched from branded goods to her supermarket’s own products in a bid to save money.
She told Express.co.uk: “I used to buy Tetley’s, but just buy Tesco’s own now. A Tesco shop which used to be £60 a week is £70 to £80 now.”
Mum Kathleen Wright, 76, from Collier Row, said she now keeps a closer eye on prices when at the shops.
The retired newsagent said: “You’re more aware now when you shop.
“My husband and I have savings but we don’t want to touch them. It could come to that. It’s a worry.”
Shoppers have seen their grocery bills surge at the fastest rate since 2008 after spikes in the price of butter, milk and chicken, according to new data.
Research firm Kantar revealed grocery price inflation jumped to 11.6 percent for the four weeks to August 7, compared with 9.9 percent in the previous month.
It said this equates to a £533 annual increase in the average UK household’s grocery bill.
As a result, it reported sales of own-label value products increased by almost a fifth – 19.7 percent – as shoppers sought to make savings.
Fraser McKevitt, head of retail and consumer insight at Kantar, said: “As predicted, we’ve now hit a new peak in grocery price inflation, with products like butter, milk and poultry in particular seeing some of the biggest jumps.
“It’s not surprising that we’re seeing shoppers make lifestyle changes to deal with the extra demands on their household budgets.”
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