The cost of an average family shop has risen by almost £1,000 a year since the last General Election, startling new analysis revealed.
Back in 2019 householders spent an average of £60 on food and non-alcoholic drinks per week – amounting to £3,120 a year. But now they are shelling out £79 a week for the same goods in the same shop.
This means they’re spending £4,100 a year on average. Labour has accused the Tories of leaving families worse off, despite bragging about inflation finally falling this morning.
The price of food rose by 31% between the 2019-20 financial year and April this year, according to the Consumer Price Index. And Labour analysis of data from the Office for National Statistics (ONS) found the average weekly shop rose £19 in that time.
Darren Jones, Labour’s Shadow Chief Secretary to the Treasury, said: “After 14 years of Conservative chaos, families are worse off. Rishi Sunak has spent this election campaign telling the British people that they have never had it so good. However, hardworking families have seen the prices of the week shop soar and taxes hit a 70-year high.”
He went on to accuse the Conservatives of putting mortgage holders at risk of massive increases, amounting to nearly £5,000 over the next Parliament. Mr Jones said: “Now, all the Conservatives are offering is a desperate wish list of unfunded spending promises that will mean £4,800 more on people’s mortgages. It’s time for change. A vote for the Conservatives is a vote for more chaos and £4,800 more on your mortgage. A vote for Labour is a vote for change and to make you better off.”
It comes as inflation finally dropped to 2% in May after over two years of misery. Shadow Chancellor Rachel Reeves said: “After 14 years of economic chaos under the Conservatives, working people are worse off. Prices have risen in the shops, mortgage bills are higher and taxes are at a 70-year high.”
And she continued: “The choice at the election is simple: stability with Labour that will make Britain better off or five more years of chaos with the Conservatives that will mean higher mortgages.”
Following the announcement that inflation had dropped, Rishi Sunak said: “Great news this morning that inflation is back to normal at 2%. That’s lower than Germany, France and America. When I became Prime Minister, inflation was at 11%. But we took bold action. We stuck to a clear plan, and that’s why the economy has now turned a corner.”
The Consumer Price Index (CPI) was last recorded at 2% in July 2021, before shooting up amid the cost-of-living crisis. In October 2022 it reached a 40-year high of 11.1%.
The latest fall means that prices are still rising across the country, but at a much slower rate than in recent years.