Funeral costs out of control

The boss of funeral giant the Co-op has admitted the industry has cashed in on people’s grief.

Steve Murrells said: “For too long the industry kept putting prices up. People felt obliged to spend it – they kind of felt it represented the importance of that person’s life.”

His comments came after the Competition and Markets Authority recently launched an investigation into soaring funeral costs.

The watchdog said prices had shot up 66% in the past 10 years, three times faster than inflation.

It also found a funeral now costs those on the lowest incomes almost 40% of their annual earnings – more than they would spend on food, clothing and energy combined.

Murrells, chief executive of the wider Co-operative Group, said it had been pushing for an investigation. “We think this market needs regulation,” he told the BBC. “This is a caring market that needs to provide the best service at the most difficult of circumstances.

“You and I could open up a funeral business tomorrow with no qualifications or regulations. It’s crazy.”