Families set to be £1,700 a year worse off due to rising costs

Families set to be £1,700 a year worse off due to rising costs. Families in the UK are battling increasing food, fuel and gas bills.

Families across the UK are being hit by rising prices due to factors including the lack of lorry drivers, the coronavirus pandemic, shipping delays and Brexit. Inflation is currently at over 4 per cent and over the next few months, it is predicted to reach a staggering 5 per cent.

Many households are already being hit hard by the increasing costs and Christmas is set to make this worse. According to BBC Panorama, Christmas costs this year will rise by more than £100.

Families with two adults and two children are said to be spending more than £30 a week extra just to cover the cost of essentials in December, according to the Centre for Economic and Business Research (CEBR).

At the moment some of the cost increases are still being taken on board by companies. It is expected though that these costs could soon be passed onto customers.

The supply chain crisis has been investigated by BBC Panorama. The latest programme looks into how supply chain issues could see costs rise for consumers.

Bidfood is fighting to find sufficient lorry drivers. They are one of the largest food distributors in the country. The chief executive of Bidfood Andrew Selley commented “I’ve worked in this business for over 20 years and I’ve never known things to be as challenging as they are currently.”

He went on to add: “Whether you’re looking at people resources, product availability, everything seems to be coming together at the moment and it presents us with a very challenging set of circumstances.”

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