Consumers

Huge rise in the price of food

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Supermarket food prices are soaring, with the price of key items rising at several times the rate of inflation, figures show.


The rising cost of the shopping basket

The price of fresh food has risen by 12 per cent since the start of the year, while meat and fish now costs 23 per cent more on average. Meanwhile chicken and ham have risen by 42 and 45 per cent since January, placing the former staples out of many consumers’ price range.

The rises in the price of both basic pasta and basmati rice have also smashed through the 40 per cent barrier.

Even so-called slump proof tinned foods have registered a price rise of 15 per cent – more than three times the Government’s official inflation rate of 4.4 per cent.

Read moreHuge rise in the price of food

Millions more face big energy price increases

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· Up to 34% rise as last two big suppliers get into line
· Government urged to act as more face fuel poverty


Photograph: Steve Taylor/Getty Images

This summer’s misery for energy consumers reached a climax yesterday when the last two of the big six suppliers raised prices for millions of household customers.

ScottishPower, which has just over 5 million customers, said gas bills would rise by 34% from the beginning of next month, and electricity by 9%. Npower said it was putting up gas prices by 26% and electricity by 14% for its 6.6 million customers with immediate effect.

Read moreMillions more face big energy price increases

Individual bankruptcy filings up 27%

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American Bankruptcy Institute says first-quarter filings rose as households creak under heavy debt load.

NEW YORK – The number of individuals filing for bankruptcy surged during the first-quarter as American households struggled to stay on top of debt, according to a report released Wednesday.

The American Bankruptcy Institute said that consumer bankruptcy filings increased 27% nationwide in the first three months of the year, compared with the same period last year. In March alone, 86,165 individuals filed for consumer bankruptcy – a 13% increase over the 76,120 cases filed in February.

“Bankruptcies are rising due to the heavy burden of household debt and growing mortgage problems,” said ABI Executive Director Samuel J. Gerdano. “We expect this trend to continue through 2008.”

The ABI found that nearly 32% of all consumer bankruptcy cases were Chapter 13 filings, which is available to individuals with regular income and calls for budgeting some of the debtor’s future earnings to pay off creditors.

April 2, 2008: 12:15 PM EDT

Source: CNN Money