THE UK is being battered with rising taxes, surging inflation and skyrocketing house prices – and all while wages fail to catch up.
And there are warning the upcoming price cap rise could send millions of families in the UK into fuel poverty, with energy bills expected to rise by more than 50%.
The UK is facing a perfect storm of Covid, Brexit, global supply shortages, increased electricity and gas usage and a lack of affordable homes.
Meanwhile, electronics are experiencing high prices due to global microchip shortages.
READ MORE: UK inflation rises to highest level for 30 years as food prices surge
So everything from your smart TV to your loaf of bread are seeing big price increases.
The Consumer Price Index, which measures inflation, rose by 5.4% in November 2021.
This fast rise means the average person in the UK spending £430 per month on groceries would pay an extra £25 a month.
The ONS said: “Amongst the food groups, the largest contributions came from bread and cereals, meat, and vegetables, potatoes and other tubers.”
Bread
Bread costs have held steady over the past few years but there are warnings to expert further rises of up to 25% as the price of wheat increases globally.
The average bread price in the UK is £1.07, meaning an increase of 26% could mean a rise of up to £1.34 per 800g.
Bread prices have fallen since historic highs in 2013 but have been rising since 2016.
Margarine
Margarine and other vegetable fats increased 14.5% in 2021 compared to 2020.
Butter
Meanwhile, butter saw an 8.9% increase last year. The ONS puts the average price of butter at £1.78 per 250g.
The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 4.8% in the 12 months to December 2021. Source: ONS
Butter prices have increased from £1.34 in February 2016.
Spring and mineral water
Spring and mineral water have jumped 8.2% from 2020 to 2021.
UK retail price changes by food group, 2009 to 2019. Source: ONS
Crisps
And the average prices of crisps have risen 7.3% over the course of 2021.
Lamb and goat
Lamb and goat is getting more expensive too, with an increase of 6.9%.
Whole milk
Whole milk is also seeing a steady rise, with the common grocery costing 5.7% more in 2021 than in 2020.
Low fat milk
Those straying from the full fat offerings won’t trim off much of their budgets though as low fat milk increased by 5.2 last year.
The latest milk prices overall for milk per pint is 46p.
Eggs
Another household staple, eggs increased 5.4% in 2021. The ONS puts the average large free-range egg price per dozen at £2.20. This is up from £2.07 in February.
Beef and veal
Steaks are set to get more expensive as beef and veal saw a price rise of 5.1%. Official figures put the average price of beef per kg at £6.39, with the food starting to rise since February 2021. Before then prices were declining over the last 10 years.
READ MORE: SNP issue demands to ease cost of living crisis as PM 'sleepwalking into catastrophe'
If 2022 sees a similar rise, a kg of beef could cost £6.71.
Ready-made meals
They may be convenient but they are also are getting more expensive. Ready meals saw a rise of 5.1% in 2021.
Fresh and chilled fruit
Fresh and chilled fruit saw a 5% rise in 2021.
Tea and coffee
Meanwhile, tea and coffee saw a 4.5 and 4.1% respective increase in prices last year.
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