Low food inflation eases money worries
08/04/2010Food budgets are now stretching further after the overall cost of groceries only increased by 1.2 per cent in March.
The British Retail Consortium (BRC), who track the figures, state that this is the lowest rate of increase since records began in December 2006.
This news will certainly come as a relief to many Britons with financial problems, as shops seek to lure in consumers who have a reluctance to spend, following the recession.
BRC Director General Stephen Robertson points out that the small increase will help shoppers when they plan their personal financial budgets. He also indicates that it will be roundly welcomed as consumers face "sharp rises in other living costs, such as fuel."
Kevin Still, director of Atlantic Finance Management says: "Consumers are budgeting more prudently and fears of VAT being added to more goods may also be a concern."
He says the firm monitors "essential expenditure items and very few are costing less.
Loss of income remains the number one reason for people starting a Debt Management Plan (DMP)."
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