Business
Brits must spend faster to break even
London | May 10, 2008 12:01:13 AM IST
Food prices in Britain are rising above double digits and at more than six times the rate of inflation, a newspaper survey indicated. The Daily Mail's Cost of Living Index found that families in Britain will need to spend $197 more per month on basics -- heat, food, electricity and transportation -- just to break even, the paper reported. But food prices are rising at a rate of 15.5 percent a year, much faster than the official 2.5 percent consumer price index. Gas prices are also pushing inflation, the report said, up 16.5 percent, pushing a year's price for driving up $400. Including rising mortgage prices, families will need to spend $6,323 more this year to keep their standard of living from declining, the Daily Mail reported. (UPI)
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