🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Britain's food banks brace for worst winter yet

Published 18/10/2023, 00:17
GBP/USD
-

LONDON (Reuters) - Britain's biggest food bank network warned on Wednesday it was expecting its worst ever winter, with over 600,000 people likely to need support as a cost-of-living crisis now in its second year curtails spending power.

The Trussell Trust, which supports a network of 1,300 food bank centres across the United Kingdom, said it expected to provide more than one million emergency food parcels between December this year and February 2024.

That would be a record number of parcels for this period of time and compares to 904,000 a year earlier.

“We don’t want to spend every winter saying things at food banks are getting worse, but they are," Emma Revie, chief executive of the Trussell Trust, said.

“One in seven people in the UK face hunger because they don’t have enough money to live on."

The trust appealed for more donations, as a surge in need meant most food banks have to buy stock to make up for a shortfall.

Britain is the world's sixth-biggest economy but its citizens have been pressured for more than a year by high inflation which until recently outstripped pay growth for almost all workers.

While inflation is now slowing, more than 60% of UK households still saw their disposable incomes fall in August compared to a year earlier, according to supermarket group Asda's monthly Income Tracker.

UK consumer price inflation peaked at a 41-year high of 11.1% in October 2022. It eased to 6.7% in August this year, still among the highest rates in Western Europe, with food inflation at 13.6%.

Prime Minister Rishi Sunak's key economic pledge is to halve overall inflation in 2023 before a probable election in 2024.

Almost one in three British adults expect to spend less on Christmas this year, according to a PwC survey published on Monday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.