Cashing in on Rising Prices
Despite the pretence of offering "discounts", supermarkets have been exposed as nothing more than spivs as they take advantage of rising food prices by adding a little extra increase for themselves.
The Producer Price Indices show that the larger chains have seen a 11.4% increase in the cost of food from the manufacturers in a year. However, families have seen their grocery bills increase by 12.3% (as per the Consumer Price Index); ie the supermarkets have added another 0.9% for themselves.
Mervyn King, the Governor of the Bank of England, has warned that he is concerned about companies that use the jump in inflation to "camouflage" an increase in prices.
Canny shoppers should beat the supermarkets at their own game, and only buy those products that offer real value for money.