How many of your staples have soared in just six months?

The staggering cost of foodflation: After Lurpak rocketed to £7.25 a pack, how many of your staples have soared in just six months?

  • A survey of 4,000 UK households found 56 percent are buying fewer groceries
  •  Butter, milk, meat and dog food have seen the biggest hikes, say Kantar
  • Sainsbury’s warned yesterday that rising prices ‘will only intensify’ over the year

 From petrol prices to energy bills, childcare fees to rampant inflation rates, the cost of living is higher than it’s been in 50 years.

And the squeeze in the supermarkets is perhaps worst of all, with families up and down the country united in horror at the rising cost of their weekly shop.

A 750g tub of Lurpak butter made headlines this week after stunned shoppers found it on sale at Sainsbury’s for £7.25.

A nationwide survey of 4,000 households found that 56 per cent are buying fewer groceries as a result of spiralling prices

Butter, milk, meat and dog food have been named as the worst offenders by market researchers Kantar, who say grocery prices are rising at the fastest rate in 13 years.

Meanwhile, a nationwide survey of 4,000 households found that 56 per cent are buying fewer groceries as a result of spiralling prices, with the same proportion skipping meals in a bid to save money.

And don’t even think about indulging in a takeaway coffee: leading chain Costa has hiked its prices not once but twice since December, with a small cappuccino now costing a whopping £3.50.

Experts claim many of the increases come from rising farming costs, with fertiliser, animal feed and fuel all more expensive than they were six months ago. These are being passed down to consumers, via suppliers such as supermarkets and coffee shops, hiking the prices of everyday basics.

These costs, in turn, can be linked to the Russian invasion of Ukraine in February, which has had a knock-on effect on energy bills, supply chains and commodities exported from both countries, namely wheat, corn and sunflower oil, as well as building materials and computer chips.

Combine that with the aftermath of a pandemic, which led to global shortages, production freezes and staffing problems, and it’s no wonder our food bills are rocketing.

A 750g tub of Lurpak butter made headlines this week after stunned shoppers found it on sale at Sainsbury’s for £7.25

Worryingly, Simon Roberts, chief executive of Sainsbury’s, warned yesterday that the strain of rising prices ‘will only intensify over the remainder of the year’.

‘The effects of this are going to last longer than I am sure most people expected,’ he added. ‘The price of food, fuel, fertiliser and labour have all gone up. We are seeing substantial cost impacts and they are not going to go away tomorrow.’

So how much has the cost of a weekly shop risen? We totted up a list of everyday items from January and compared it with today’s average prices — with shocking results.

Source: Read Full Article