Cost of living - latest: Petrol prices hit milestone; supermarket drops price of 200 items

Sainsbury's proclaims grandest ever matching of prices to rival Aldi.

Sainsbury's has revealed its most extensive Aldi price match initiative to date as rising prices begin to decelerate.

Starting today, the renowned retail titan will expand its Aldi price match initiative with over 40 additional items. This boosts the overall count of products in the campaign to an impressive 400.

New items have been added to the assortment, including a variety of soups, burger buns, bread, and delightful indulgences like Bramley Apple Pies, all under the Sainsbury's brand.

Sainsbury's has additionally revealed that starting today, Nectar Prices, the program granting Nectar patrons reduced prices on a diverse array of goods, is now applicable to frozen edibles for the very first time.

This implies that patrons are now capable of acquiring Nectar Prices for over 5,000 items at Sainsbury's stores and on the internet. Starting today, new offers will be introduced, which consist of discounts of up to 50% on popular frozen items like Birds Eye Fish Fingers, Goodfellas Thin Margherita Pizza, and Linda McCartney Original Sausages.

Simon Roberts, the top executive of Sainsbury's, stated: "By implementing our most extensive Aldi Price Match and Nectar Prices initiatives, no matter what items you're purchasing, you can consistently expect to receive excellent affordability at Sainsbury's."

Here are a few examples of the products that Sainsbury's has added to its Aldi price match assortment...

Employees of the Civil Aviation Authority support strike action. or Workers at the Civil Aviation Authority endorse the decision to go on strike.

Employees of the Civil Aviation Authority (CAA) have overwhelmingly supported taking industrial action in protest against inadequate wages and an excessive burden of work.

Employees belonging to the Prospect union have expressed their support for strikes with a majority of 2-1 and other types of industrial action with almost 9-1. The voter turnout for the poll reached 65%, surpassing the necessary legal requirement.

The labor union claimed that the CAA had declined to offer an "equitable" salary increase for the current year.

This marks the inaugural occurrence of a vote on labor action conducted within the CAA.

The moment and manner of the labor strike will be determined at a later time.

In order to avoid strikes, Mike Clancy, who is the general secretary of Prospect, suggested that the CAA could prevent it by returning to negotiations with a substantial proposal.

Waitrose introduces its inaugural meal package offering

Waitrose has introduced its inaugural midday meal offer to assist customers in cutting costs amidst the challenging financial times.

Customers can purchase a complete meal at an affordable price of only £5. The options available comprise of main courses, side dishes, and a beverage. The variety of choices includes sandwiches, sushi rolls, fresh fruits, and scrumptious salads.

Starting from August 30th, the offer will be available in all of our stores. Furthermore, individuals who possess a MyWaitrose loyalty card will be entitled to a complimentary cup of coffee upon purchase.

Jennifer Moscardinia, the individual responsible for purchasing food-to-go products at the supermarket, expressed her enthusiasm for the introduction of this meal deal in our food-to-go selection.

We are aware that many of our customers visit our stores to purchase something for their midday meal. Therefore, it is crucial for us to provide them with a meal deal that is both convenient and offers excellent quality at an affordable price.

Which other locations provide discounted meal options - and at what cost?

Tesco offers their product for a price of £3.90, and if you possess a Clubcard, you can avail it for a reduced price of £3.40.

Morrisons supermarket offers a pricing deal of £4, but if you happen to be a loyal Morrisons More customer, you can snag it for a discounted rate of £3.50.

Cooperative - £4, or £3.50 with a Cooperative affiliation.

At Asda, you can find a variety of lunch options available at affordable prices, with prices ranging from £3 to £5.

Boots - You can find them for approximately £3.99 in most places, but if you take advantage of the Boots Advantage Card loyalty program, the price drops to £3.60.

A single element might 'tilt equilibrium of housing market in UK towards steep downturn'

According to an expert interviewed by Sky News, individuals who have a keen interest in the state of the housing market in the United Kingdom should pay significant attention to the phenomenon of distressed sales.

A distressed transaction happens when a house owner sells their property hastily, typically below its market price, because they are unable to afford living in it or settling the mortgage.

Prior to delving into the significance of the statistics in relation to the general market condition, let's first take a look at the current scenario in the United Kingdom.

According to Roland Whyte, the creator and leader of Nokkel, a company that provides property data, a potential drop in the aforementioned numbers, which might happen if interest rates go up, could very well trigger a chain reaction that impacts the real estate market.

"It's the sales under pressure that require close monitoring. Currently, they are at a minimum. However, the crucial inquiry is - what factors could disrupt the delicate equilibrium of the present UK housing market, resulting in a surge in distressed sales?" he stated.

The number of individuals with substantial mortgages who will soon be exiting their more affordable fixed rate contracts is on the rise.

This pairing may result in an increase in sales of troubled properties in the next year or thereabouts.

Those involved in the real estate market, including buyers, sellers, and professionals, must closely monitor this occurrence. In the event that there is a significant surge in distressed sales, it is possible that house prices could experience more pronounced declines throughout the United Kingdom.

People who have blue badges will have to pay ULEZ charges.

Blue badge users will face fees when the ultra low emission zone (ULEZ) is expanded in the upcoming week.

The ULEZ - currently implemented in the heart of London - imposes a fee of £12.50 per day on drivers of the most environmentally harmful vehicles within its designated area.

Starting on 29 August, which is next Tuesday, the area will be expanded to reach the outskirts of the capital, connecting with neighboring regions like Buckinghamshire, Essex, Hertfordshire, Kent, and Surrey.

It has now been revealed that motorists who have difficulty moving around will not be excused from the fee, as stated by Transport for London. According to the organization, individuals with blue badges must pay the £12.50 charge per day for low emissions if their car fails to meet the required emission criteria.

In contrast, individuals with blue badges may be eligible for exceptions if they are officially recognized as disabled drivers by the DVLA. Additionally, they might also be exempt if they own a vehicle that is wheelchair-accessible or if they are receiving other forms of disability assistance.

Sadiq Khan has consistently emphasized that the majority of vehicles traveling in outer London on a typical day align with ULEZ standards. However, the expansion of the initiative has faced strong opposition in certain regions as a result of increasing living expenses.

'Increased likelihood of a severe economic downturn' as economy set to shrink, report cautions

A closely monitored measure of economic activity indicates that the economy is likely to shrink in the ongoing third quarter of the year and cautions about increased chances of a severe recession.

An initial examination of the S&P Global/CIPS Purchasing Managers' Index (PMI), which assesses the leading services sector and manufacturing, revealed a sharp decline in factory production and overall fragility in August.

It attributed the persistent issue of rising prices and the consequences of the effort to control inflation, specifically the repeated increases in interest rates by the Bank of England.

According to the survey's findings, it is believed that there was a decrease of 0.2% in the total economic production from July to September.

If that came true, it wouldn't initiate an economic downturn but might indicate the commencement of one.

Continue reading this developing article here...

Invasive delivery drivers making inappropriate requests for sexual encounters

A watchdog has issued a cautionary statement about delivery drivers who, upon accessing customers' personal information, are soliciting sexual favors.

Around 30% of individuals aged 18 to 34 are experiencing the unfortunate situation of encountering bothersome delivery drivers who engage in improper communication, commonly known as "text pests". These young adults are subjected to unsolicited and undesirable contact after sharing their personal information for services like food or package deliveries.

The ICO conducted a survey and gathered responses from 2,289 adults in the UK.

According to Emily Keaney, the deputy commissioner, there might be some individuals who still hold onto the mistaken belief that obtaining someone's personal information to propose a date is "romantic." However, she straightforwardly declares that this belief is incorrect and illegal.

"She stated that individuals should have the freedom to order a pizza, provide their email for a receipt, or receive home deliveries without subsequently being solicited for sexual favors or a romantic encounter shortly after."

The ICO is encouraging individuals who have been affected to step forward in order to gain a clearer understanding of the extent of this phenomenon. Additionally, they will be contacting prominent companies that interact directly with customers in the UK to ensure they comprehend their obligations and to gather information about the measures they have in place to protect individuals.

The top budget-friendly locations for purchasing disclosed - and the staggering amount of London dwellers dedicating nearly half of their earnings to mortgage payments

We have additional captivating revelations from the latest Halifax Affordability Review, which disclose that individuals who own houses in London are currently devoting nearly fifty percent of their earnings towards their mortgage payments.

This diagram illustrates a geographical division of typical housing costs and earnings, and on the opposite side, the proportion of salary devoted to a home loan.

The information presented also reveals the locations that are the most and least budget-friendly to reside in, taking into consideration the average earnings within those areas.

Affordability of houses on the rise - considering the increase in earnings

The UK's housing market experienced a decline in property prices after reaching its highest point last summer. This, along with the long-awaited increase in wages, has led to a decrease in the ratio of house prices to income, which had previously reached an all-time high.

This insight is the main conclusion drawn from Halifax's most recent analysis of affordability.

During its highest point in June 2022, the price of a typical residence in the United Kingdom stood at £293,586, while the mean yearly income of a worker engaged in full-time employment amounted to £40,196.

This resulted in a house price to income ratio of 7.3, which is the most expensive level ever documented.

After one year, the typical cost of a house dropped to £286,276. In addition, with significant increases in wages (approximately +7% in the past year), as annual earnings reached £43,090, the ratio between house prices and income decreased to 6.7.

The current figure is slightly higher than the 6.2 ratio documented at the beginning of 2020, which shows the lasting effects of skyrocketing property price inflation in recent times. These effects were caused by a surge in buyer demand during the pandemic, attractive incentives like the stamp duty holiday, and historically low interest rates.

Gasoline prices exceed 150p per liter for the first time in 2021.

Data from the AA reveals that the cost of petrol in the UK has surged to an average of 150p per litre, reaching this level for the first time since January.

Statistics indicate that the typical cost of unleaded fuel has currently reached 150.1p per litre, whereas the price of diesel has risen significantly to 152.41p. This exacerbates the existing financial burdens that the nation is already grappling with.

Luke Bosdet, a representative for AA, stated that the surges in wholesale expenses "seem to have reached their maximum point at the present time."

"He mentioned that there are still fuel stations available where one can buy fuel at a price that is 4p-5p per liter lower than the average. However, the challenge lies in identifying their locations," he stated.

The most recent study arrives following an examination conducted by the RAC which unveiled that the top four supermarket chains in the UK, namely Tesco, Asda, Sainsbury's, and Morrisons, have experienced an increase of two-fold in their fuel profit margins since Russia's invasion of Ukraine in February 2022.

The profits of the supermarkets rose significantly from 4.7p per litre before the war to approximately 10p per litre afterwards.

Drivers experienced a surge in fuel prices last year, resulting in an additional cost of 6p per litre due to the higher profit margins.

In the year of 2016, the collective profit percentage for gasoline and diesel fuel was a mere 2 pennies, gradually increasing to 6 pennies in 2021. However, there was a sudden and substantial surge in 2022, boosting the profit margin to 9 pennies.