Food prices have increased to a record high. Brits can no longer tolerate the cost of living crisis. They are desperately looking for the cheapest supermarket for shopping to make ends meet. How can supermarkets help people during the crisis that the Government has caused?Â
Food price inflation hits record high
As Daily Mail reports, new figures show that food prices have soared to a record high. The cost of groceries rose 15.7 per cent last month, the highest on record. According to the latest BRC-NielsenIQ shop price index, the rise pressures consumer finances.
In the month under review, there has been a staggering year-on-year increase of 17.8% in the prices of fresh food. Moreover, the cost of products, such as tinned goods and other store-cupboard items, rose 12.9 per cent.
Helen Dickinson is chief executive of the British Retail Consortium (BRC). She makes comments in this regard. She says: ‘Overall shop price inflation eased slightly in April due to heavy spring discounting in clothing, footwear, and furniture. ‘However, food prices remained elevated given ongoing cost pressures throughout the supply chain.
Due to rising production and packaging costs, the prices of ready meals have increased. Additionally, the cost of coffee has also gone up. It now costs 37% more to make a cheese sandwich at home than last year, while a ham salad sandwich has risen by 16% to 84p.
Which supermarket is the cheapest in the UK?Â
Supermarket shopping is a contentious issue frequently discussed in our savings community. Many members wonder where the best place to shop for groceries is, and this question has sparked a heated debate. As Skint Dad, a prominent member of the community, points out, your weekly supermarket bill can significantly impact your finances. Therefore, it is crucial to compare prices across different supermarkets and find the best deal for your budget.
In April 2023, Which? conducted an extensive analysis of grocery prices at six significant supermarkets. They discovered that Aldi was the cheapest option for a basket of 41 grocery items, with an average cost of £72.54 over March. In contrast, Waitrose charged £92.55, and Lidl set £72.79 for the same items. However, when Which? compared prices for a more extensive shopping list of 137 items, Asda emerged as the most affordable option, with a final cost of £343.91. This included the original 41 items and 96 additional products, including popular brand-name items like Andrex toilet paper and Cathedral City cheese.
When buying 137 items, Sainsbury’s was the second-cheapest option, costing £9.25 more than Asda. Waitrose, on the other hand, was significantly more expensive, charging £41.83 more than Asda. These findings demonstrate the importance of carefully considering your supermarket choices and conducting thorough research to ensure you get the best value for your money. By shopping around and comparing prices, you can save a considerable amount on your grocery bills and stretch your budget further.
Who should support people during the cost of living crisis?Â
As the Economics Help Website reports, rising petrol, energy and food prices have pushed many households in the UK into an unprecedented cost of living crisis. In Britain, in March 2022, the ONS reported that 23% of households had difficulty paying their bills. As Young Scot says, you may have recently heard about the ‘Cost of Living Crisis’ or ‘inflation’. In the UK, energy prices are soaring, daily essentials are becoming more expensive, and some people struggle to make ends meet.
The strange idea is to expect supermarkets to support people during the cost of living crisis in the UK. “Which?” says the findings of its research demonstrated that shoppers can make noticeable savings on their groceries depending on where they buy their food. However, it says many major supermarkets have not done enough to support their customers during the cost of living crisis (Sky News). Following wrong policies and decisions, the Government has caused the cost of living crisis for Brits. Why should supermarkets pay for the Government’s mismanagement?
Government-related factors cause the cost of living crisis.
The Government’s mismanagement and wrong decisions have led to the cost of living crisis in the UK. International Viewpoint Website refers to the factors that have caused the soaring prices of energy, food, other essentials and rent. Such factors include multiple supply chain disruptions after Brexit and the pandemic, followed by Russia’s invasion of Ukraine. These factors brought a severe cost of living crisis. Moreover, inequalities in class, race, and gender, and the care and ecological crises worsened the cost of living. In addition, there has been a squeeze in wages. Due to all these issues, the current cost of living crisis is the deepest in a generation.
As Economics Help Website says, the cost of living crisis is prima caused by higher inflation and low wage growth. These issues have left many households worse off in real terms. Short-term factors, such as the Ukraine war, have worsened the crisis. However, pressure on living standards has long-term trends, such as low growth of productivity and increased market power of firms.
The Government’s big mistake is its attempt to expand the Russian-Ukraine war. Another mistake the Government made was Britain’s exit from the European Union. The Government’s mismanagement of Covid pandemic is another cause of the economic crisis. In general, the Government’s wrong internal and foreign policies have destroyed the UK’s economy.
The Government must tackle the cost of living crises.
As NPR says, Britain’s cost of living crisis began in late 2021. According to the think tank, high inflation, tax increases, and rocketing energy prices worsened the cost of living crisis. Wage growth hasn’t kept pace with record inflation, and the tax increases announced last year were the since the early 1990s. All these factors have considerably weakened the purchasing power of people across the UK.
NPRÂ says it interviewed nearly a dozen people throughout London about what is on their minds after Queen Elizabeth’s funeral. NPR asked them what they hope to see next. Almost everyone had the same main concern: the economy, particularly the cost of living crisis.
Many people are looking for the cheapest supermarket as they can hardly meet ends. The Government must tackle the crisis that it has caused.
