Millions of families are struggling to buy basic needs as food prices are soaring “and national insurance increases hitting pay packets for the first time this month.”
The Office for National Statistics said, in March the price of bread shot up by 2.3% and is now 5.5% more expensive than last year. Lamb has risen by 1.7% which will now cost 16% more expensive than this time last year.
There has been an increase in costs of some basic food staples which is adding to the pressures facing households around the country, data based on the retail price index shows.
ONS figures on Wednesday shows that everyday costs are climbing at a rate not seen before and overall inflation has hit 7%.
Joanna Elson, chief executive of the Money Advice Trust, the charity behind the National Debtline, warned millions of households are already buckling.
“One in eight UK adults say they have already gone without heating, water or electricity in the last three months,” she said.
“With energy, food and fuel price rises showing no signs of easing, and national insurance increases hitting pay packets for the first time this month, there is no respite in sight.
“Urgent action is needed to prevent more people facing impossible choices trying to meet basic needs, and at risk of an increasing burden of debt.”
“Food price inflation is already at its highest level for over 10 years and the disruption in global markets means prices are likely to continue to climb in the months to come, which is particularly concerning for low-income households,” said Food and Drink Federation chief executive Karen Betts.
“Food and drink manufacturers are doing all they can to absorb rises in their ingredient, raw material and energy costs. But businesses must also remain viable and the reality of current inflation means that some price increases are having to be passed on.”
British Retail Consortium chief executive Helen Dickinson said, “Retailers are trying to help consumers by expanding their value ranges and doing all they can to keep the price of essentials down.
“This can be seen in the BRC’s Shop Price Index, which tracks the price of basic goods, which showed a slower rise in the price of essential foods and other products than the inflation levels reported by the ONS.”