Sunday, 24 Nov 2024

Price of some household staples triples in two years amid soaring food inflation

Some supermarkets are charging nearly three times the price for products as they did two years ago, Which? has found.

Everything from Bakewell slices and bread loaves to even budget supermarket lines has bloated in price amid the cost-of-living crisis.

Food inflation stood at 18.4% in May, according to the Office for National Statistics (ONS), down from 19.1% in the year to April 2023.

The agency says this decrease came after food prices rose to their highest in over 45 years, nearly reaching the 21.9% rate last seen in August 1977.

Cupboard and fridge staples like milk, cheese and eggs drove the slight decrease.

But food prices remain high, consumer watchdog Which? found after tracking 21,000 products across eight major supermarkets in the last two years.

The worst contender was Mr Kipling Bakewell Cake Slices x6 at Sainsbury’s, which swelled in price by 175%, from £1 to £2.75.

The baked goods company’s chocolate slices similarly rose from £1 to £2.59 at Tesco, a 159% increase.

Other price hikes have included Morrison’s own-brand mozzarella shooting up from 49p to £1.19 and Asda’s Free From Special Flakes going from 62p to £1.50.

Lidl’s Chene D’argent Brie rose from 79p to £1.85.

Budget line items – often billed as giving shoppers value for money – have gone up by 37.1% as supermarkets say they have cut costs.

‘While these products are still usually the cheapest available,’ Which? said, ‘the scale of these price hikes shows how the poorest in society are being hit hardest by increasing prices.’

In the three months to the end of June 2023 compared to the same period two years earlier, the price of baked goods leapt by 30%.

Cheese and meat soared on average by 35% and 24% respectively, while four-pint milk increased by 25% across all retailers to £1.45 last week.

A medium-sized loaf of whole bread had a price tag of 58p two years ago but now costs a shopper 75p.

Supermarkets and the Government have increasingly come under fire as some analysts say the price of a monthly grocery shop is more than energy bills.

Brits are doing what they can to get by. Nearly half (48%) are buying less food, the ONS found, with 96% of Brits crediting growing grocery bills as the biggest way the cost-of-living crisis is impacting.

One in 20 adults has run out of food in the past two weeks and has been unable to buy more.

Sue Davies, the head of food policy at Which?, said: ‘Our research exposes the shocking true scale of food price inflation at supermarkets since the cost of living crisis began.’

It comes as the competition regulator, the Competition and Markets Authority (CMA), is set to publish a review into whether food prices are clearly and fairly displayed.

Which? found that Tesco Clubcard prices aren’t always the best deal, with the discounts on offer from the supermarket loyalty card not displaying the unit prices.

Unit prices show the cost of a product, such as per 100g. Tesco, Which? found, does not display this on Clubcard offers, leaving shoppers ‘confused’, Davies said.

‘We’ve found pricing practices, both online and in-store, to be inconsistent, confusing and sometimes missing altogether,’ she added.

‘All supermarkets should follow the example set by Morrisons and commit to stocking essential budget ranges that enable a healthy diet in smaller convenience stores, particularly in areas where people are most in need.’

When approached for comment, both Lidl and Morrisons pointed to an earlier statement issued by the British Retail Consortium.

The trade association’s chief executive, Helen Dickinson, called on Which? to stop ‘vilifying’ retailers and ‘focus on providing useful information’ for shoppers, such as price cut lists or cheaper alternatives for costly products.

‘Instead, Which? have focused on grabbing headlines by cherry-picking a small number of products that have risen the most in two years, with little regards for the reasons why,’ she said.

Dickinson said that grocery prices are among the lowest in Europe.

‘After two years of sky-high inflation, which has seen energy, labour, commodity, farm, and transport costs all rise significantly for retailers, it is little surprise that prices are higher than two years ago,’ she added.

A Sainsbury’s spokesperson said: ‘We are acutely aware of the pressures facing millions of households right now and our number one priority continues to be doing all we can to keep prices low for our customers.

‘In the last two years we have invested over £560m to keep our prices low, and in the last quarter spent £60m on saving customers money through key initiatives like our Stamford Street own-brand value range, our biggest ever Aldi Price Match and through Nectar Prices. We have consistently passed on less price inflation to customers than our competitors.

‘Our retail operating profit for last year was 2.99%, down from 3.4% in the previous financial year, demonstrating how we are doing everything we can to make sure customers get the very best prices when they shop with us.’

But Davies said supermarket giants need to do more to help cash-strapped shoppers as inflation shows no signs of ceasing.

‘Recent headline-grabbing price cuts of a few pence on some products are encouraging,’ Davies added, ‘but simply won’t be enough to help people struggling to put food on the table.’

Aldi, Asda and Tesco have been contacted for comment.

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