As Food Inflation Rises to 4.6% Consumers Must Shop Savvy to Avoid Hardship, Says Savoo

LONDON, Feb. 16, 2011 /PRNewswire/ -- January saw food prices rise at their fastest rate in 18 months in the UK, increasing inflation by 0.6 per cent on the previous month. This means people need to start shopping smarter if they are to manage their finances over the coming months, according to leading voucher code website, Savoo.co.uk.

As food inflation hits a high of 4.6 per cent, new reports also suggest that clothing prices could rocket by 14 per cent by autumn due to mounting cotton prices, making consumers understandably worried about the cost of living. Last week, the Institute of Grocery Distribution (IGD) revealed the results of a survey, which found that 61 per cent of shoppers think they will be worse-off in the next 12 months, showing a massive increase in concern since October 2010 when only 27 per cent envisaged a poorer quality of life when it comes to their finances.  

Despite fears that the Bank of England would increase interest rates on February 10 due to rising inflation, they were held for the twenty-third consecutive month at 0.5 per cent. Predictions have already emerged of a bank rate increase in May; either way, 2011 is still set to continue as one of the most difficult times for the British since the 1930's and consumers must find new ways of getting by during the slump.

Savoo.co.uk is the only deal and discount code website to never list expired vouchers and its Answers service also assists consumers to unearth the very best prices across the top online stores. People across the UK can save money on any number of purchases, from food to clothing, electrical goods to sports equipment as well as on the delivery of these items. Current vouchers include Savoo's Tesco Direct code, which gives users a 10 pounds Sterling discount on all grocery orders over 50 pounds, and a Debenhams discount voucher that offers 20 per cent off orders.

Simon Bird, Retail Partnerships Director at Savoo, said: "There is no doubt that the cost of living is on a steady increase, with a particular emphasis on food and clothing and that's without counting the recent VAT rise. People must look for more savvy ways to shop to ensure they are not put under immense financial stress and visiting Savoo.co.uk to find the best deals and discounts available is one way of helping to reduce expenditure."  

SOURCE PR NEWSWIRE EUROPE