Sharon McDougall - 2nd February 2022 - 2 minutes to read
The average cost of grocery bills could increase by as much as £180 over the course of this year, according to a new set of figures.
Kantar UK, a consultancy firm, has estimated that the average consumer’s grocery shops will be up by nearly £200 if current trends in inflation persist over the coming year.
That estimate is based on data suggesting the costs of a typical shopping basket increased by around 3.8 per cent in the four weeks prior to January 23rd.
However, there are potential reasons to worry that prices might rise even more sharply, with the headline rate of inflation across the UK put at 5.4 per cent for the month of December 2021.
That figure of 5.4 per cent for December represents the highest level of inflation recorded since 1992 and it’s now well-established that households nationwide are feeling their finances squeezed by rising costs of living.
“Prices are rising on many fronts, and the weekly shop is no exception,” said Fraser McKevitt, head of retail and consumer insight at Kantar UK.
“Taken over the course of a 12-month period, this 3.8 per cent rise in prices could add an extra £180 to the average household’s annual grocery bill.
“We’re now likely to see shoppers striving to keep costs down by searching for cheaper products and promotions.”
A major driving force behind increases to the cost of living in recent months has been rising energy bills, which are expected to soar still further in the coming weeks.
Huge numbers of Scots have been finding it tough to make their monthly energy bill payments this winter and some estimates suggest that roughly a third of Scottish households now consider their gas and electricity bills to be unaffordable.
Worryingly, recent research by Citizens Advice Scotland (CAS) indicated that close to 400,000 people in Scotland would consider their homes difficult to heat, which for many is a big reason why their energy bills are so high.
The CAS is calling for homes across Scotland to be better insulated so that fewer people find themselves struggling each winter with the costs associated with heating their homes.
“The cheapest energy is the energy you don’t use - better insulated homes mean people don’t have to pay as much,” explained Kate Morrison from the CAS in a recent statement.
If you live anywhere in Scotland and you are worried about your personal debts then Scotland Debt Solutions can help. Contact us directly to arrange a FREE and confidential consultation.
Levels of unsecured debt in Scotland increased dramatically during 2022 as the cost of living crisis took its toll on household finances.
Close to half a million Scots are in a position of profound financial hardship, according to a new set of figures.
Disabled people in Scotland are being urged by the government to check whether they might be eligible for benefits that could help make their life a little easier.
Why Choose Us
5 Offices in Scotland
Ask us About
Helping Scots Get
Out of Debt Since 1989
We offer an
Instant Initial Consultation
We'll Help You
Lower Monthly Payments
HELPING SCOTS GET
Out of Debt Since 1989
We'll give you a call
Our Scottish based team can help advise you on your debt problems.
Our personalised debt report will help you better understand your financial position and see where your money is going.
Arrange a call with an expert advisor at a time to suit you or contact our team via WhatsApp for immediate help and advice.
Our Insolvency Practitioners are regulated by ICAS or the IPA and our firm is authorised and regulated by the Financial Conduct Authority
Fees and Information: There are fees associated with our services. These will be fully explained before entering into any of the personal debt solutions referred to on this website. Full details of our fees and how these are charged are fully explained to you prior to you committing to any particular service.