Revealed: how UK’s poor paid price of ‘cheapflation’ in cost of living crisis
by Larry Elliott Economics editor from on (#6PYWP)
Price rises were bigger for budget foods than expensive varieties during peak years of inflation, research shows
The bill for a weekly shop in Britain's poorest households rose by far more than it did in wealthy homes during the height of the cost of living crisis as the sharpest price increases affected cheaper brands, research reveals.
The study by the Institute for Fiscal Studies (IFS) found the least well-off had been hardest hit by cheapflation" in the 2021-23 period - paying 29.1% more for their food, compared with 23.5% for better-off households.
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