I would say this is definately true, I work on the tills at a big supermarket and the amount of people who are in disbelief at how much their shopping has come to. you also get to see couples give each other dirty looks as if it is some how their fault that they have spent so much.
Also I have seen an increase in the amount of people buying food from the value ranges, some people are filling their trolley's with nothing but the value ranges.
Many of the customers are not only complaing about the cost of food and petrol, but also how much the general cost of living has increased by.
There are a lot of unhappy people out there!!