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Re: Rising cost of living
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Originally Posted by tweetiepooh
I guess good times is relative but over the past decades the percentage of wages spent on food dropped remarkedly. (I read somewhere it dropped from 25%+ to below 10%). If that were true then that is some capacity to save.
If you are buying luxuries that is also capacity to save, do you really need that luxury?
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You may find this informative.
https://ahdb.org.uk/news/consumer-in...-money-on-food
Quote:
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According to the Office of National Statistics, between 1957 and 2017 the share of household expenditure spent on food has halved. This partly reflects our larger incomes, smaller households and a greater choice of products at different price points. Over the same period, the share of our spending going on housing has doubled and spending on transport has also significantly increased.
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Quote:
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For many low-income families in the UK, food poverty is a pressing issue and putting sufficient nutritious food on the table is a struggle. The Eatwell Guide is Public Health England’s official guidance on a diet that meets standard nutrient requirements. Analysis by the Food Foundation showed that the poorest 50% of households who wanted to eat a diet following Eatwell guidelines would need to spend almost 30% of their disposable income on food. The lowest 10% of households by income would need to spend almost 75%.
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---------- Post added at 14:29 ---------- Previous post was at 14:26 ----------
Quote:
Originally Posted by Taf
The September CPI, which is used to set next year's changes in Benefits, etc. will no doubt plunge well into single figures. I wonder how that happens?
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Not sure if that’s accurate, as inflation is forecast to rise to 13% by the end of this year…
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