As Food Inflation Rises to 4.6% Consumers Must Shop Savvy to Avoid Hardship, Says SavooBy Savoo, PRNE
Tuesday, February 15, 2011
LONDON, February 16, 2011 - January saw food prices rise at their fastest rate in 18 months in the
UK, increasing inflation by 0.6 per cent on the previous month. This means
people need to start shopping smarter if they are to manage their finances
over the coming months, according to leading voucher code website,
As food inflation hits a high of 4.6 per cent, new reports also suggest
that clothing prices could rocket by 14 per cent by autumn due to mounting
cotton prices, making consumers understandably worried about the cost of
living. Last week, the Institute of Grocery Distribution (IGD) revealed the
results of a survey, which found that 61 per cent of shoppers think they will
be worse-off in the next 12 months, showing a massive increase in concern
since October 2010 when only 27 per cent envisaged a poorer quality of life
when it comes to their finances.
Despite fears that the Bank of England would increase interest rates on
February 10 due to rising inflation, they were held for the twenty-third
consecutive month at 0.5 per cent. Predictions have already emerged of a bank
rate increase in May; either way, 2011 is still set to continue as one of the
most difficult times for the British since the 1930's and consumers must find
new ways of getting by during the slump.
Savoo.co.uk is the only deal and discount code website to never list
expired vouchers and its Answers service also assists consumers to unearth
the very best prices across the top online stores. People across the UK can
save money on any number of purchases, from food to clothing, electrical
goods to sports equipment as well as on the delivery of these items. Current
vouchers include Savoo's Tesco Direct code (
www.savoo.co.uk/m-Tesco-Direct-vouchers.html), which gives users a
GBP10 discount on all grocery orders over GBP50, and a Debenhams discount
voucher (www.savoo.co.uk/m-Debenhams-vouchers.html) that offers 20 per
cent off orders.
Simon Bird, Retail Partnerships Director at Savoo, said: "There is no
doubt that the cost of living is on a steady increase, with a particular
emphasis on food and clothing and that's without counting the recent VAT
rise. People must look for more savvy ways to shop to ensure they are not put
under immense financial stress and visiting Savoo.co.uk to find the best
deals and discounts available is one way of helping to reduce expenditure."
For further information on Savoo and to view the latest deals and
discounts, please visit www.savoo.co.uk.
Pete Goold +44(0)1858-411-600 email@example.com
Contact: Pete Goold, +44(0)1858-411-600, info at punchcomms.com .
Tags: February 16, London, Savoo, United Kingdom