An odd reversal of stats has been revealed today after an official survey reports that we now spend more of our income on housing and less on food, whilst 50 years ago, we spent much more of our budget on food.
Obviously with house prices booming over the past decade would have had an effect on this, but has our food bill dropped because food is cheaper? Or are we less prepared to spend our hard earned money on lots of food, and more on material things such as clothes, electrical goods and gadgets and going out?
The Expenditure and Food survey reckons 19% of our spending was on paying our rent or mortgage repayments, whilst food and drink accounts for just 15% of our weekly spend.
There are also regional costs that are hidden when an average is collected of the UK as a whole, obviously costs in London will greatly vary from costs in the North East of England.
You can read more at the http://news.bbc.co.uk/1/hi/business/7213177.stm
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