Let’s break that down.
To calculate the average saving per household, we need to know the approximate number of households in the UK. According to the Office for National Statistics (ONS), there were approximately **28.1 million households** in the UK in 2022.
Using these figures:
* **Total savings:** £150,000,000
* **Number of households:** 28,100,000
**Calculation:** £150,000,000 / 28,100,000 households = approximately **£5.34 per household per year.**
To put that into a weekly perspective:
* £5.34 per year / 52 weeks = approximately **£0.10 per household per week (10 pence).**
**In summary:**
On average, the government’s claimed savings of £150 million a year on food would equate to roughly **£5.34 per household annually**, or about **10 pence per household per week**.
**Context:**
* **Average:** It’s important to remember this is an average. Some households might save more, others less, depending on their shopping habits and the specific items targeted by any cost-saving initiatives.
* **Mechanism:** The government’s claim likely comes from efforts to tackle “shrinkflation” (reducing product size while keeping prices the same) or “skimpflation” (reducing quality) and by encouraging competition among retailers.
* **Impact:** While any saving is welcome, especially during a cost of living crisis, an average of 10p per week is unlikely to dramatically change most households’ weekly food budgets. However, for households on very tight budgets, even small cumulative savings can make a difference.
