More

    Anxiety grows among Britons as ‘prices rise sharply ahead of Christmas’

    (Photo by Hollie Adams/Getty Images)

    Britons are growing increasingly anxious about the rising cost of living and are dining out less and shopping in cheaper stores, claims financial mutual, Scottish Friendly citing a recent survey.

    With food and energy bills on the up, more than one in three UK adults are nervous they will be unable to pay for essentials, according to a survey of 2,000 UK adults, in which almost half of survey respondents admitted they were going to restaurants less frequently in a bid to save money while more than four in ten were shopping in cheaper stores and supermarkets.

    The survey further claimed that four in ten Britons said they were cutting back on treats over the next three months.

    An inflation rate of 4.2 per cent, the highest level for ten years, was “undoubtedly a cause of concern for some,” Kevin Brown, savings specialist at Scottish Friendly, said.

    “With sharp price rises, Christmas just around the corner and expected increases in national insurance in 2022, it’s a challenging time for a large majority of Brits.

    “For those that are feeling the pinch, having a really good handle on all your outgoings to prioritise the essentials and potentially cut back on other areas can help.”

    The survey’s findings comes a day after analysts at Kantar revealed that price of a Christmas dinner is more than 3 per cent higher than last year, led by an increase in the price of frozen turkey, traditional puddings and sprouts. 

    Fraser McKevitt, the head of retail and consumer insight at Kantar, said the increase in the cost of a Christmas dinner closely echoed that of grocery prices as a whole in the four weeks to 28 November, with inflation hitting 3.2%, the highest level since June last year. Overall inflation was driven by price rises in savoury snacks, crisps and cat food.

    However, McKevitt said consumers had yet to adapt their habits to deal with higher prices.

    Latest

    Family-owned plant-based startup secures funding

    UK-based family-owned startup Shicken has raised £4 million in...

    KP Snacks launches new Tyrrells recycled plastic pack

    KP Snacks today announces the introduction of 25 per...

    Brew Dog delivers low ABV with new Cold Beer

    This summer, BrewDog is cooling down the beer aisle...

    Mangrove portfolio dominates at World Whiskies Awards 2024

    The independent distributor Mangrove’s world whisky portfolio recently cleared...

    Don't miss

    Family-owned plant-based startup secures funding

    UK-based family-owned startup Shicken has raised £4 million in...

    KP Snacks launches new Tyrrells recycled plastic pack

    KP Snacks today announces the introduction of 25 per...

    Brew Dog delivers low ABV with new Cold Beer

    This summer, BrewDog is cooling down the beer aisle...

    Mangrove portfolio dominates at World Whiskies Awards 2024

    The independent distributor Mangrove’s world whisky portfolio recently cleared...

    Co-op’s net zero targets validated global body

    Co-op has become the first UK convenience retailer to...

    Family-owned plant-based startup secures funding

    UK-based family-owned startup Shicken has raised £4 million in funds from Matthew Glover’s Veg Capital, which has tripled its investment in the plant-based meat...

    Co-op’s net zero targets validated global body

    Co-op has become the first UK convenience retailer to have its net zero targets validated by the globally recognised Science Based Targets initiative (SBTi). According...

    Kitwave Group acquires 130-year-old delivered wholesaler

    Kitwave Group plc, the delivered wholesale business, has acquired Total Foodservice Solutions Limited, a leading independent food wholesaler in the North of England. Established over...