Inflation pushes student grocery bill up £127

Students heading to university this year will have to find £127.40 more than they did last year for their first year grocery shopping bill, according to research from Abbey Banking.

The research asked current students which items of food they bought on a weekly basis from the Office of National Statistics Consumer Price Index or "basket of goods", the tool used to measure inflation, then calculated the weekly and yearly increase in costs.

Amongst the top 10 student items were staples such as bread, cereals and dairy products, all items that have been seriously affected by steadily climbing food prices. Breads and cereals, for example, have risen 13.7 per cent in price over the past year while dairy products have experienced a 19 per cent rise.

Student spending on grocery shopping was relatively modest at an estimated £24.50 a week or £3.50 a day, but this excludes items of food such as sandwiches bought outside of weekly trips to the supermarket.

Steve Shore, Abbey Banking Director, commented: "Inflation is eating into student spending power at an incredible rate and for those heading off to university this year the increased cost of basic goods is likely to come as a nasty surprise. Students need to ensure that they're budgeting carefully in all areas, and should ensure that they have a competitive student account offering a good interest free overdraft and other benefits."

Abbey's new student bank account has an interest free overdraft, which increases annually, 4 per cent in credit interest and £50 cash on opening the account, which will help students out. For more information, log on to abbey.com, call 0800 032 8727 or visit your local branch. Students will need to bring identification and proof of course with them to open an account.