Frugal Brits 'cut food bills this Christmas'

09/12/2008

Christmas food bills are being hit hard by the credit crunch, uSwitch has claimed.

Research from the financial website, released today, showed that Britons were planning to spend £1.7 billion less on the festive fare in 2008, when compared with last year.

Booze bills are shrinking, with 14 million customers cutting their spend on beer, wine and spirits - while upmarket retailers are also set to feel the strain, as seven million are looking to shop at a "cheaper supermarket" for their food in order to save money.

Ann Robinson, director of consumer policy at uSwitch, said: "Our research shows that consumers have little or no appetite to play the fiddle while Rome burns. The frugality that people started to adopt earlier this year now looks set to pick up pace and continue through Christmas and into the New Year.

"Households are preserving cash as very often this is their only protection against market volatility, recession and redundancy."

In total, uSwitch said that 29 million Britons - a majority of the adult population - are planning to make some form of food cutbacks this festive season.

Tags; Budgeting Advice, Young Family Finances,

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