With supermarket food prices rising by 5% how can you make savings?

Justin King, the former boss of Sainsbury’s, has been quoted forecasting food price rises of 5% for 2017. The main reason for the increase is – King says – the fall in the value of the pound that has followed the Brexit vote. With the pound now worth less, ingredients and packaging shipped in from overseas cost more in £ terms. This means that companies producing food and consumer goods that aren’t entirely made in the UK may up their prices. The Marmite debacle was a recent example of this. Marmite was one of the products involved in the pricing row between Tesco and Unilever, which makes the spread. Unilever claimed the need for a price increase ‘because of Brexit.’ According to Mr King, about 50% of what we buy is sourced abroad and that’s what will drive the food price increases. If food prices do rise, what can you do to keep costs down? Buy now Although there’s clearly no need for panic buying, it might be wise to stock up on some items before food prices rise.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s