Baby formula prices remain close to historic highs more than 18 months after the UK competition watchdog began an investigation into the market, states a recent report.
What Are Current Baby Formula Prices?
The cost of infant formula fell only 50p on average last year, to £11.99 a tin, compared with £11.10 in 2021, with the most expensive priced at £18.
The products are out of reach for those entitled to the government’s Healthy Start allowance designed to help poorer families, according to the First Steps Nutrition Trust campaign group. Most baby formula products have not changed price in the past year.
Dr Vicky Sibson, the director of the trust, told The Guardian, “You can see that despite being exposed for maintaining 50-75 per cent profit margins, the big brands are maintaining high prices, which we think is shameful.”
The Competition and Markets Authority proposed in February several measures to help parents, which it said could allow them to save £300 a year by switching to a lower-priced baby formula brand.
The CMA’s recommendations included standardised packaging in hospitals and other healthcare locations to tackle the power of marketing on new parents and allowing families to use gift vouchers and loyalty card points to buy formula milk.
The CMA launched its study into the infant formula market after finding that manufacturers raised prices by 25 per cent in two years and managed to increase profit margins during the cost of living crisis.
However, the regulator decided against recommending regulations such as a price cap on formula or a profit-margin cap.
The government is yet to outline its plans for the market.
A Department of Health and Social Care spokesperson said, “There are many benefits of breastfeeding but for those mothers that cannot or choose not to breastfeed, it is vital parents can access infant formula that is affordable and high quality.
"Families should not be paying over the odds to feed their babies.
“As part of our plan for change, we’re determined to ensure every child has the best start to life. We are working closely with the devolved governments to carefully consider these recommendations and will respond fully in due course.”
