![]() ![]() 41% of those interviewed named price as the most important influence on their food spending habits. The price of food is the driving factor behind what people buy. This is despite the government’s program to get people to eat their five-a-day portions. In addition to this waste there has also been a fall in the consumption of fruit and vegetables. There is a surprising statistic that shows the average family loses around £470 per year just on food that is thrown away. In spite of the high costs for fresh foods, many families generate a huge amount of wasted food. ![]() Of course averages will always throw up anomalies so these figures will not apply to every family. Compared to Ireland, the UK food industry costs less. However, all other food consumerism is more expensive. Groceries prices in United Kingdom are 1.43% lower than in Germany. The average household spent 0.3 per cent more on food in 2016/17 than in 2014, when prices were at their highest during the last 10 years. The last figures available for the home budget for food were published in 2018. How Much of Our Household Budget is Spent on Food This could cause a reduction in the amount of households with money left over at the end of the month, increasing the need for cash advance loans. However, there is more borrowing going on now then there was following the financial crash. Some families are enjoying a small surge in spending power. Combining these facts with low inflation means means that wages in real terms have increased. These increases have been attributed to the more positive economic outlook.
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