Sharp annual rise in staple food prices

Research has shown that the average price of staple foods in the UK has risen by as much as 20.5% over the past year.

According to MySupermarket.co.uk, the prices of 24 staple foods have risen by 20.5% at Tesco, 19.2% at Asda and 13.4% at Sainsbury’s.

The figures compared prices in February 2008 with the same basket of food products a year later.

The rising price of food has become a particular concern for many UK consumers, who have also had to deal with fluctuating prices of domestic energy and petrol in the past 18 months.

A spokesperson for debt management company Gregory Pennington said: “The prices of many foods have risen by significantly more than inflation, which has put a lot of people under financial pressure.

“For those already struggling to pay their bills or make their debt repayments, this can be very stressful. It’s very important that anyone having trouble with their financial commitments seeks professional debt advice.”

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Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.