The staggering cost of food inflation: After Lurpak soared to £7.25 per pack, how many of your staples have skyrocketed in just six months?
- A survey of 4,000 British households found that 56 percent buy less groceries
- Butter, milk, meat and dog food have seen the biggest hikes, says Kantar
- Sainsbury’s warned yesterday that rising prices ‘will only increase over the course of the year’
From petrol prices to utility bills, childcare benefits to rampant inflation rates, the cost of living higher than in 50 years.
And the tightness in supermarkets is perhaps worst of all, with families across the country uniting in horror at the rising cost of their weekly store.
A 750g tub of Lurpak butter made headlines this week after stunned shoppers found it for sale at Sainsbury’s for £7.25.
A nationwide survey of 4,000 households found that 56 percent of their purchases are reduced as a result of rising prices
Butter, milk, meat and dog food have been cited as the biggest culprits by market researchers Kantar, who say food prices are rising the fastest in 13 years.
Meanwhile, a nationwide survey of 4,000 households found 56 percent less grocery shopping as a result of rising prices, with the same percentage skipping meals to save money.
And don’t even think about a takeaway coffee: leading chain Costa has raised its prices not once but twice since December, with a small cappuccino now costing a whopping £3.50.
Experts argue that many of the increases are the result of rising farming costs, with fertilizer, feed and fuel all more expensive than six months ago. These are passed on to consumers, through suppliers such as supermarkets and coffee shops, who raise the prices of everyday commodities.
These costs, in turn, may be associated with the Russian invasion of Ukraine in February, which had a knock-on effect on energy bills, supply chains and goods exported from both countries, namely wheat, corn and sunflower oil, as well as construction materials and computer chips.
Combine that with the aftermath of a pandemic, which led to global shortages, production shutdowns and staffing problems, and it’s no wonder our food bills are skyrocketing.
A 750g tub of Lurpak butter made headlines this week after stunned shoppers found it on sale at Sainsbury’s for £7.25
Disturbingly, Simon Roberts, chief executive of Sainsbury’s, warned yesterday that pressures from rising prices ‘will only intensify throughout the rest of the year’.
“The effects of this will last longer than I’m sure most people expected,” he added. “The prices of food, fuel, fertilizer and labor have all risen. We see significant cost effects and they will not disappear tomorrow.’
So how much has the cost of a weekly store gone up? We’ve compiled a list of everyday items from January and compared them to today’s average prices – with shocking results.