The price of groceries in British supermarkets are rising faster than any other nation, with parents shelling out more money for necessities as the retailers cash in on the increased mark-ups.
According to a report by UBS, the food market has seen a 3 to 3.5% price inflation. However consumers are paying out even more as many UK supermarkets have increased their prices prices by up to 6.5% on daily essentials like bread and cereals. It’s little surprise that the UK fared the worst when compared to six other economies including Germany and America.
British consumers will be forking out even more on items with bread prices set to rise by a 10-15p increase within the next few weeks.
If your family is feeling the burn of food inflation, make the most of your supermarket spend by having regular family meal times. According to major new research, it could even make your family happier!
The national study, called Understanding Society, is following 40,000 households across Britain, and this week revealed that families who have regular meals together, are happier and have stronger bonds with each other. Children who ate with their parents up to three times a week were found to be more likely to be happier with their lives.