Cost of budget brands, daily staples spike; Chocolates see lowest inflation

Daily staples like butter, milk and cheese have seen their price rose by 30 per cent in the last year as inflation continues to squeeze UK households, states a recent report, revealing that discounters spiked prices the most.

According to research from the consumer group Which?, price of budget items rose 20.3 per cent on average in December, compared with the same month a year before. Supermarkets’ luxury ranges rose 12.6 per cent and the price of branded items went up 12.5 per cent.

Prices of grocery staples including butter and spreads, milk and cheese spiked by 29 per cent, 26 per cent and 22 per cent-  respectively, across all supermarket chains. Bakery items were up 19.5 per cent and savoury pies, pastries and quiches rose 18.5 per cent. Inflation was lowest for chocolate products, with prices up 6.5 per cent on average.

Utterly Butterly (500g) saw dramatic price rises at several supermarkets.

Sue Davies, the head of food policy at Which?, said: “Some households are already skipping meals to make ends meet and our findings show trust in supermarkets taking a hit as many people worry they are putting profits before the people suffering during this cost of living crisis.

“Supermarkets must do more, Which? is calling for them to ensure everyone has easy access to basic, affordable food ranges at a store near them, particularly in areas where people are most in need.”

Which? tracks annual inflation of tens of thousands of food and drink products across three months at eight major supermarkets – Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose.

Despite being a discount retailer, Lidl prices went up the most, increasing by 21.1 per cent in December, followed closely by Aldi at 20.8 per cent. Asda had the third highest inflation but was closer to the average of 15 per cent with a rise of 15.4 per cent, report stated. Overall in December, food and drink inflation was at 15 per cent overall across the eight retailers.

The survey also shows that trust in supermarkets is plummeting, from positive 67 in May 2021 to positive 42 now.