New figures out today show the pain of rising food bills is now having a dramatic impact.
- There has been a fall of 4.1% in food sector sales
- This fall is the largest fall in the food sector since May 2011
- It means that overall the level of goods bought in this sector has fallen to its lowest point since December 2003
One possible reason for this contraction was a rise in prices, as indicated by store price inflation. Consumer prices data shows that food prices have steadily been increasing and that there is a wide variety of food types contributing to the rise (including staple goods).
It suggests families are cutting back on even the basics of life - such as food.