Consumers: Soon to feed through

Kevin Gaffney had to face up to a double setback on Friday. The 53-year-old, made redundant by the airline that employed him at London’s Heathrow airport, was obliged to sign on for jobseeker’s allowance for the first time. And just when his income was at an unhappy ebb, what struck him at the supermarket where he stopped off for provisions was  how much food prices were on the rise.

The outward evidence was the reverse. Garish red-and-yellow posters adorned the Lidl store in Haringey, an unassuming part of north London, announcing the German cut-price retailer’s latest reductions. Baked beans, bacon and bread rolls were all down, by as much as 31 per cent.

But away from the special offers, having already made the switch from more upmarket chains such as Sainsbury and Waitrose, Mr Gaffney says he has “noticed even in here prices have gone up … It’s across the board, really, because the  price of grain has gone up, which is used to feed the animals.”

Read Entire Article