Abacus Daily Debt News

Debtors ’saving’ on groceries

Those in debt appear to be trying to save money by reducing spending on everyday items such as food and drink, according to new figures.

Data from the Office for National Statistics has revealed that expenditure on groceries has dropped by 4.6 per cent - the biggest fall since 1977 - to stand at £16.3 billion in the second quarter of 2009, the Daily Mail reports.

Money saved from such actions in that period totalled £13.4 billion, which is the highest amount since 1997.

Furthermore, during the quarter, the largest decline since 1982 was seen in the alcohol and tobacco markets, which registered a fall of 6.5 per cent.

Earlier this month, however, it was suggested by Unbiased.co.uk that the recession has done little to emphasise the problems with borrowing money, following a rise in debt levels for the second quarter of 2009.

According to the organisation, £5.5 billion - nearly twice the amount for the first quarter - was taken out.

By Sarah Adie