The average household in the UK spends 11% of its weekly expenditure on food. However, 20% of households (those on lower incomes) are actually forced to spend proportionately at least 30% more of their current weekly food spend than the national average.
The research, released by supermarket chain Morrisons, found that 5.2 million households – already defined as living in poverty – spend 15.5% or more of their total weekly outgoings on food and non alcoholic drinks alone: up from 14.5% in 2007. Unfortunately, the experts warn that this inequality is only set to worsen if the increasing rise in the general cost of living continues to outstrip wage increases.
The analysis, conducted for Morrisons by John Glen, senior lecturer in Economics at Cranfield School of management, highlights:
He continued: “These findings make for worrying reading. In today’s stretched financial society, the disproportionate food spend in low income households means that there is simply less money left in the pot for all the other things families need to pay for such as bills, clothing and fuel.”
Sarah Willingham, money saving expert, said: “Whilst the average household spend of 11% of outgoings a week on food may not be totally achievable for everyone, being aware of it, at least as a key figure in your expenditure, can help in planning and budgeting.”
Source: Morrisons
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