Buying a takeaway or eating in isn’t the value-for-money option it once was, an official analysis shows.
(Bloomberg) — Buying a takeaway or eating in isn’t the value-for-money option it once was, an official analysis shows.
The cost of fish and chips, burgers, pizzas and other British favorites rose faster than a restaurant meal over the past year, data from the government’s Office for National Statistics showed Wednesday. In the 12 months to March, fast food and takeaway prices increased 13% while costs rose 10% at restaurants, cafes and “dancing establishments.”
Cooking at home does not save as much money, either, following a 19% increase in grocery prices in the year to March. The price of staples such as cheese, milk, eggs, olive oil, potatoes, baked beans lemonade and bread are all up by more than 25%.
The figures shed light on how the worst cost-of-living squeeze in a generation is impacting the budgets of individual households. Policy makers at the Bank of England are concerned that inflation is lingering in double digits even after the quickest round of interest rate increases in four decades.
The ONS released the data along with a new online comparison tool to help households track the rising cost of both their shopping basket and essential household services — from bananas to nursery fees to hiring a plumber.
Inflation has soared to its highest level in four decades, at 10.1% to March, hammering UK living standards. Poorer households who spend a greater share of their income on essentials like food and heating have been worst affected.
The ONS analysis showed that, in general, takeaways have raised their prices by more than restaurants. Fish and chip prices are up 19% in the past year. Burgers, pizzas, kebabs, chicken and chips and pasties have all seen prices rise by 13% or more.
Cold sandwiches and coffees are 11% more expensive. The best value takeaways are Indian and Chinese – up just 10% – in line with restaurants and the same as a traditional cup of tea.
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