Household spending

Both Waitrose and Marks & Spencer have suffered a fall in sales, particularly of fresh meat products, as a direct result of the impact of the credit crunch on consumer spending.
M&S was recently giving away large chickens, that would normally cost more than £8, as part of its 'Dine in for £10' deal, which includes a side dish, dessert and bottle of wine.
The National Beef Association has reported a cross-UK fall in slaughter cattle prices on the back of anxiety among processors about a slow-down in consumer spending and fall in sales.

Analyst with retail experts Verdict, Nick Gladding, said: 'Meat is usually one of the most expensive things in people's shopping baskets, so it's one of the first things families cut back on if they are trying to save money.'
Director General of the British Retail Consortium, Stephen Robertson, said the credit crunch has had a number of unforeseen effects on stores, not lease a rise in the theft of meat.
He said: 'Retailers are preparing for a rapid rise in offences and are adapting crime prevention methods, for example, placing electronic security tags on expensive cuts of meat.'
The change in buying habits should mean less food ends up in the bin.

Figures for last year showed a third of good food goes into the bin - 6.7m tonnes a year with a value of £10 billion.
The average annual value of good food dumped per household is put at £420, while the figure rises to an average of £610 for families.
The figures on food came amid other dire warnings with economists warning that the high street is facing its worst Christmas in 35 years.
Experts say the situation is so bad the country could see a number of retailers forced to put up the shutters in the New Year.

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