Families are paying ￡1,100 more a year for their food than 12 months ago according to a new study. The study also researched alternative investing done by those who have hardly any money to invest. The main method of investing, according to the survey is Internet gaming.
Internet gaming has hit the investing world like a storm because of new software that has come out in recent years. It is now possible to scan prices globally in seconds and uncover risk-free betting opportunities which provide guaranteed returns of as much as 12% per month. Using software like one called ArbAlarm, ordinary people can now easily profit from this unique method of investment. Aware of this trend, the UK government recently announced through the Treasury that the profits made from sports arbitrage trading will continue to remain free of all tax. This includes income tax and capital gains tax on all profits.
In an interview, former City trader Rajeev Shah, famous author of ‘Sports-Arbitrage - How To Place Riskless Bets & Create Tax-Free Investments’ explained that an arbitrage occurs when different bookmakers’ prices on the same events overlap. In these cases, it is possible to bet on all of the outcomes in that event in such a way as to be guaranteed a total return which is greater than the total outlay. The mathematics of this type of trade are precise & the resultant profits are free of all risk.
While the world struggles to pay their bills and find new investment methods food costs continue to rise. A basket of 24 staple products at Britain’s three biggest supermarkets - Tesco, Asda and Sainsbury’s - has increased in price by 21 per cent compared to this time last year.
It means that a family with two or three children who typically spent ￡100 a week on groceries a year ago has seen its annual food bill rise from ￡5,200 to ￡6,292.The figures, from a price comparison website, came on the same day that official data showed factory gate inflation at an all-time high.
Factories were paying 30.3 per cent more for raw materials than a year ago. In turn, they charged their customers - such as supermarkets - 10 per cent more for their goods. This is termed “output” inflation and it is the first time has been in double digits since records began in 1986.
In the Bank’s annual report he warned that its Monetary Policy Committee “can have little impact on the path of inflation in the short term. It has not attempted to prevent inflation moving away from the target following the sharp rises in commodity prices”.
Philip Hammond, the Tory Treasury spokesman, said: “[These figures] will come as a body blow to hard-pressed families. As these soaring factory gate prices feed through into higher retail prices and earnings remain stagnant, this will squeeze living standards even further.”
A spokesman for Elizabeth Finn Care, an anti-poverty charity, pointed out that it was the most basic items such as milk, bread, rice, pasta and eggs ― all of which are included in the basket ― that were increasing in price the fastest.
“Food prices are increasingly hitting many households,” said Rebecca Ward. “A recent study of ours estimated that 14 per cent of people viewed three meals a day as a luxury. And with the school holidays starting and many families losing the benefit of free school meals, it will get tougher.”
Supermarkets have started cutting the prices of some items but many of the promotions run for a short time or involve shoppers buying more than one item. Multi-buy offers account for four out of every five discounts that the supermarkets run.
The factory inflation figures showed that food manufacturers were charging their customers prices that were 11.8 per cent higher than a year ago. The price of petrol and related products rose 34.2 per cent compared to a year ago.
Tags: UK News