Study: Food prices up by 8.3% in 2008 |
| Friday, 05 September 2008 | |
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Food prices have jumped by 8.3% since the beginning of 2008, a study carried out by Verdict Research in collaboration with the BBC has said. The organisation said that the findings are a barometer of a difficult economic climate, with the ongoing credit crunch. Such statistics come just days after the British Retail consortium said that food price inflation year-on-year in August was 10% - but the rate of inflation is slowing down. Verdict Research revealed that vegetables and fresh fruit have grown in price by 14.9% since the start of the year, while fish and meat have seen a 22.9% increase. Some items have even grown in value by 50% in the past eight months, the company said, and seven of the food types studied have gone up by over 40%. In total, Verdict Research divided the analysed goods into 13 sections, and they were all those that are typically used by families everyday. Verdict Research has also this week stated that Eastern European retailers could head West as the credit crunch atacks their profits. Related Articles
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