Food prices 'increasing faster than people's wages'
www.moneynews.co.uk > General finance > Food prices 'increasing faster than people's wages'
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Money News |
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Food prices 'increasing faster than people's wages'
Wed 8th Jul 2009
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A survey conducted by the British Retail Consortium has found that food price inflation stands at 5.6 per cent compared to the average pay rise of just 1.8 per cent.
However, it also revealed that food price inflation came down to 5.6 per cent last month, compared to 6.4 per cent in May.
"Food inflation is now the lowest it's been for 14 months. That's largely because of falling fresh food inflation, particularly for dairy products and some meats," said director general of the consortium Stephen Robertson.
He added that retailers are listening to the concerns of consumers and doing all they can to keep costs down amid the recession.
Tesco revealed in April that its weekly sales in the UK hit £1 billion for the first time.
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