UK Households Squeezed as Prices of Budget Supermarket Food Soar
The prices of the cheapest food items in British supermarkets have increased significantly, putting pressure on households already struggling with the surging cost of living.
According to the Office for National Statistics (ONS), the lowest-priced food items have increased in cost by around 17 percent over the 12 months to September 2022—an increase from 7 percent over the 12 months to April 2022.
Vegetable oil showed the largest price increase. The cheapest vegetable oil on supermarket shelves has jumped by 65 percent from a year ago.
The cheapest tea had risen in price by 46 percent, chips rose 39 percent, bread was up 38 percent, and biscuits up 34 percent.
Some items also decreased in price. Orange juice dropped 9 percent, and minced beef was down 7 percent….