Food costs rising three times faster than wages

| July 9, 2009 | 0 Comments

Food prices are rising more than three times faster than the average wage, the British Retail Consortium (BRC) revealed this week.

Food inflation stands at 5.6% compared to the average UK worker’s pay rise of 1.8%.

Many employees have had their wages frozen as businesses struggle to survive through the recession.

However, the BRC added that food inflation fell in June to 5.6%, compared to 6.4% in May.

“Food inflation is now the lowest it’s been for 14 months,” said BRC director general Stephen Robertson.

“That’s largely because of falling fresh food inflation, particularly for dairy products and some meats.”

He added that oil prices have halved since 12 months ago, helping to keep food prices lower.

Food inflation in Britain is much higher than almost all other western countries, recent studies have found.

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