In Britain the average price of a loaf of sliced bread now stands at £1.15. Just one year ago it was less than one pound. In 12 months the price of skimmed milk has gone up 20%, free range eggs are up 47%, Basmati rice 60%, cheddar cheese 25%. Overall food prices since May 2007 have gone up 6.6% according to the Office of National Statistics. But according to studies that look at the shopping basket of the average family, spending on food has actually gone up 20%.
As a result, cheaper stores such as Aldi and Lidl's are experiencing a significant increase in its customers. Over the past three months Aldi has seen an increase of 25% year on year. That isn't surprising when one considers that a shopping basket of £100 at Sainsbury's would cost you only £70 at Aldi's.
Now if this is depressing you, cheer up, look on the bright side of life! On May 14 a Francis Bacon painting sold for $86.3million at Sotheby's in New York. The night before a painting by Lucian Freud sold for $33.6million at Christie's, while another by Mark Rothko sold for $50.4million.
It reminds one of an old story that goes something like this. According to statistics every citizen eats one chicken a week. Now if you think this isn't true because you don't get to eat one chicken a week, don't worry because there are some who eat two.
