Inflation to add ‘£180 to family food bills’ – how to avoid price rises
FAMILY food shopping bills could jump by £180 a week next year as the cost of living continues to rise.
The Office for Budget Responsibility has forecast that inflation will spike above 4% next year - pushing up the cost of your weekly food shop.
Inflation is a measure of how much the prices of goods and services have changed over time - and that rise would add an extra £3.50 to a family's weekly food shop.
Over the course of the year, that would amount to £183, according to the
The calculations are based on official data from the Office for National Statistics, which showed that a family with two adults and two children spent around £88 a week on food bills in 2019/20.
It's not just supermarket shopping that is getting more expensive as families have seen energy prices rise in recent weeks.
If inflation rises above 4%, families could spend an extra £1,800 on bills by the end of the year, according to separate analysis by the Centre for Economics and Business Research (CEBR).
We explain how to reduce your household spending as the cost of living soars.
Try to cut your food bills
Shopping own brand products or switching to a budget supermarket is one easy way to cut your grocery bill.
It's also worth considering whether you can make use of loyalty schemes like the Tesco Clubcard or Sainsbury's Nectar card.
Parents may also be able to get free school meals for their children.
Reduce your energy use
Price comparison firm Uswitch says turning down your thermostat by just 1C can save up to £80 a year.
They also advise cooking with a microwave as it uses less energy than an oven.
You could think about replacing metal trays in the oven with glass or ceramic dishes because they retain heat better.
Meanwhile, pans should be used on appropriately sized cooker hobs. A burner that is too large wastes energy.
Washing your clothes at 30C instead of 40C can save a third on laundry costs.
Do not leave taps running as it can waste more than six litres of water a minute, while an efficient shower head will cut down on the amount of hot water you use.
If you’re on a low income or receiving benefits, you could be eligible for the warm home discount, which gets you £140 off your bills during the winter months.
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Consumer champion Which? says the best ways to save money include organising a free overdraft, transferring your credit card debt, signing up for loyalty cards and using price comparison websites.
You can also rake in cash by hiring out a spare parking space for up to £200 a month – or renting out a spare room.
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