Parade of soft commodities ‘has increased’
The last five years have seen an increase in the prices of soft commodities, it has been reported.
Clerical Medical has found that since April 2002, the price of corn has risen by 79 per cent while raw sugar has gone up by 58 per cent.
Similarly, it added that wheat and soya oil have seen increases of 58 per cent 109 per cent.
These price hikes may have contributed to a more expensive weekly shopping list, potentially putting people into debt or forcing them to struggle when attempting to pay them off.
"Soft commodities - wheat, corn, grain, sugar, palm oil and soya - have surged in value over the past few years," said Tim Crawford, group economist at Clerical Medical.
This news follows figures from Sainsbury's Bank which show that the average householder now spends over £11,000 a year maintaining their home.
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