AUS
NZ
UK
CA
USA
IND
Highlights
- According to a Which? survey, approximately 85% of UK households are cutting back on food expenses to tackle the cost-of-living squeeze.
- About 50% of the surveyed participants said they were moving towards cheaper items.
- Out of the 9% of households, about half said that their families were avoiding meals.
According to a new survey conducted by the consumer group Which? millions of UK households are cutting back on their meals or are battling to eat healthy items amid the inflationary crisis. The Which? survey further revealed that approximately 85% of UK households purchase food items on promotion.
Further, the survey highlighted that 50% of the participants said they were moving towards cheaper items compared to what they were purchasing in the past. In fact, 47% of those claiming to be living comfortably too have started switching to cost-effective measures.
©2022 Kalkine Media®
However, out of the 9% of households facing many difficulties in getting through the situation, half were avoiding meals. Compared to the time before the crisis, nearly half (46%) of consumers struggled to have a healthy diet.
The survey unveiled that 42% of households spend less on expensive products, whereas 36% buy things in supermarkets, other shops or online. The survey results have come out with inflation hitting a 40-year high again in September amid surging food prices.
Amid soaring food inflation, Kalkine Media® explores the following food-related stocks trading on the London Stock Exchange.
Anglo Eastern Plantations plc (LON: AEP)
The YTD (year to date) return of the leading palm oil and rubber producer, Anglo Eastern Plantations plc, stands at 11.11%, and meanwhile, its return on the one-year basis as of 20 October stands at 15.94%. AEP shares, on Thursday, were trading at GBX 800.00 at around 12:15 PM (GMT+1) with a 3.09% rally. With an EPS of 1.72, the company's current turnover (on the book) stands at £1,670.40. Anglo Eastern Plantations has a low P/E ratio of 3.06.
Tate & Lyle plc (LON: TATE)
The YTD return of the globally leading company providing ingredient solutions for healthy food and drinks, Tate & Lyle plc, stands at -11.80%, and meanwhile, its return on the one-year basis as of 20 October stands at -12.70%. TATE shares were trading at GBX 680.80 on Thursday at around 12:25 PM (GMT+1) and were witnessing a rally of 0.35%. With an EPS of 0.51, Tate & Lyle has a high P/E ratio of 160.95
Premier Foods plc (LON: PFD)
The YTD return of the UK-based food manufacturing firm, Premier Foods plc, stands at -11.63%; meanwhile, its one-year return as of 20 October stands at -10.18%. With a rally of 1.96%, PFD shares were trading at GBX 98.80 on Thursday at around 12:30 PM (GMT+1). Premier Foods has a low P/E ratio of 10.95.
