Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Cost of living: Grocery prices up by 'more than 20%' in advance of food inflation caused by Ukraine war

Cost of living: Grocery prices up by 'more than 20%' in advance of food inflation caused by Ukraine war

Which? calls for greater transparency on pricing from supermarkets, accusing the sector of letting consumers down at a time when they need support amid the cost of living crisis.
Hundreds of staple grocery items had shot up in price by more than a fifth over the two years prior to the surge in food inflation caused by Russia's war in Ukraine, according to an investigation.

As households get to grips with a growing cost of living crisis, the consumer group Which? said that shoppers were also seeing fewer discounts and value ranges.

Its analysis of the average prices for 21,000 groceries at eight major chains over the 24 months to February showed that 265 items had soared in cost by more than 20%.

They included, the report said, a 500g box of Kellogg's Crunchy Nut Corn Flakes breakfast cereal which was 21.4% higher at Tesco.

Asda's 250g Own Label Closed Cup Mushrooms, up 21.4%, made the list too while Cathedral City Extra Mature Cheddar 350g was 21.1% higher at Ocado.

Efforts to combat obesity were also reflected in the findings as, out of 20 major categories, fizzy drinks saw the biggest average price rise at 5.9%.

Shoppers have been grappling a surge in prices linked to supply chain difficulties in the global economy since last year.

Much of it is easily explained by demand outstripping supply as countries navigate COVID-19 disruption.

However, the inflationary situation was exacerbated by Russia's invasion of Ukraine at the end of February which forced up wholesale costs for key commodities such as wheat.

Rising energy costs in the economy have also been passed on since - with the latest official figures showing the annual rate of food and drink inflation at 6.7% in April and forecast to increase further.

The overall headline rate of inflation is at a 40-year high of 9% as household energy and fuel bills hit record levels, intensifying the squeeze on shoppers' budgets.

Which? found that groceries with the lowest inflation included chocolate (1.4%), fresh fruit (1.6%), biscuits (1.8%) and vegetables (1.9%).

Examples of 'shrinkflation' - reducing the size of a product while maintaining the original price - included Nescafe Azera Americano decaffeinated instant coffee shrinking from 100g to 90g and Walkers Classic Variety crisps dropping from 24 bags in a multipack to 22 bags.

The number of promotions was found to have fallen across every one of the 20 categories the watchdog studied.

It said budget own-brand items were also unavailable on three times as many days during its most recent checks in February.

Sue Davies, Which? head of food policy and consumer rights, said: "Our research reveals that eye-watering price rises are being exacerbated by practices like shrinkflation and limited availability of all-important budget ranges - and these factors are combining to put huge pressure on household shopping budgets."

A Tesco spokesman responded: "We are committed to providing great value for our customers, whether it's promising 'Low Everyday Prices' on 1,600 staples, price matching around 650 basics to Aldi prices, or offering exclusive deals and rewards through thousands of Clubcard prices."
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
U.S. and Hungarian Officials Talk About Economic Collaboration and Sanctions Strategy
Technology Giants Activate Lobbying Campaigns Against Strict EU Regulations
Pope Francis Admitted to Hospital in Rome Amid Increasing Speculation on Succession
Zelensky Calls on World Leaders to Back Peace as Tensions Rise with Trump
UK Leader Keir Starmer Calls for US Security Guarantee in Ukraine Peace Deal
NATO Chief Urges Higher Defense Expenditure in Europe
The negotiation teams of Trump and Putin meet directly, establishing the groundwork for a significant advancement.
Rubio Touches Down in Riyadh Before Key U.S.-Russia Discussions
Students in Serbian universities Unite to Hold Coordinated Protests for Accountability.
US State Department Removes Taiwan Independence Statement from Website
Abolishing opposition won't protect Germany from Nazism—this is precisely what led Germany to become Nazi!
Transatlantic Gold Rush: Traders Shift Bullion in Response to Tariff Anxieties and Market Instability
Bill Ackman Backs Uber as the Company Shifts Towards Profitability
AI Titans Challenge Nvidia's Supremacy in Light of New Chip Innovations
US and Russian Officials to Meet in Saudi Arabia Over Ending Ukraine Conflict. Ukraine and European leaders – who profit from this war – excluded from the negotiations.
Macron Calls for Urgent Summit as Ukraine Conflict Business Model is Threatened
Trump’s Defense Secretary: Ukraine Won’t Join NATO or Regain Lost Territories
Zelensky Urges Europe to Bolster Its Military in Light of Uncertain US Backing
Chinese Zoo Confesses to Dyeing Donkeys to Look Like Zebras
Elon Musk is Sherlock Holmes - Movie Trailer Parody featuring Donald Trump's Detective
Trump's Greenland Suggestion Sparks Sovereignty Discussions Amid Historical Grievances
OpenAI Board Dismisses Elon Musk's Offer to Acquire the Company.
USAID Uncovered: American Taxpayer Funds Leveraged to Erode Democracy in Europe Until Trump Put a Stop to It.
JD Vance and Scholz Did Not Come Together at the Munich Security Conference.
EU Official Participates in Discussions in Washington Amid Trade Strains
Qatar Contemplates Reducing French Investments Due to PSG Chief Investigation
Germany's Green Agenda Encounters Ambiguity Before Elections
Trump Did Not Notify Germany's Scholz About His Ukraine Peace Proposal.
Munich Car Attack Escalates Migration Discourse Before German Elections
NATO Allies Split on Trump's Proposal for 5% Defense Spending Increase
European Parliament Advocates for Encrypted Messaging to Ensure Secure Communications
Trump's Defense Spending Goal Creates Division Among NATO Partners
French Prime Minister Bayrou Navigates a Challenging Path Amid Budget Preservation and Immigration Discourse
Steering Through the Updated Hierarchy at the European Commission
Parliamentarian Calls for Preservation of AI Liability Directive
Mark Rutte Calls on NATO Allies to Increase Defence Expenditures
Dresden Marks the 80th Anniversary of the World War II Bombing.
Global Community Pledges to Aid Syria's Political Transition
EU Allocates €200 Billion for AI Investments, Introduces €20 Billion Fund for Gigafactories
EU Recognizes Its Inability to Close the USAID Funding Shortfall Due to Stalled US Aid
Commission President von der Leyen Missing from Notre Dame Reopening Due to Last-Minute Cancellation
EU Officializes Disinformation Code for Online Platforms, Omitting X
EU Fails to Fully Implement Key Cybersecurity Directives
EU Under Fire for Simplification Discussions Regarding Corporate Sustainability Reporting
Shein Encountering Further Information Request from the EU During Ongoing Investigation
European Commission Initiates Investigation into Shein as It Aims at Chinese E-Commerce Regulations
German Officials Respond to U.S. Proposal for Peace Talks with Russia
Senate Approves Robert F. Kennedy Jr. as Secretary of Health and Human Services.
Trump and Putin Engage in Discussions on Ukraine Peace Negotiations Amid Worldwide Responses
Honda and Nissan End Merger Talks
×