Price of pasta has doubled in two years, states a recent report, highlighting how food prices will continue to rise throughout 2023.
According to a recent report by BBC, a standard 500g bag of pasta was 50p two years ago and now it is selling for 95p. Total cost of a small basket of 15 everyday essentials, including a mix of everyday essentials like oven chips and strawberry jam to pasta sauce and potatoes, has gone up by £5.34 from £15.79 in 2021 to £21.13 in 2023.
Strawberry jam saw a jump of 57 per cent while oven chips saw 45 per cent rise, shows the report.
Commenting on the numbers, Director at Assosia, Kay Staniland, said that “it’s inflation on top of inflation at the moment”.
The report comes as experts predict that inflation may have peaked at 11.1 per cent in October but food prices will continue to rise throughout 2023.
According to James Walton, chief economist at the IGD, a research charity in the food and consumer goods industry, it could hit 17-19 per cent in the first half of this year, with the rate of increase starting to fall quickly after that.
“The food supply chain is extremely complicated. The products can change hands many times, before they come to us as the consumer. And so it takes a long time for the costs increases at the start of the supply chain to be passed down all of the steps until we actually encounter them in the store,” Walton said.
Prices were rising at the start of 2022. But it was ripple effect of Ukraine war that led to increase in the price of gas as well as disrupting supplies of grains, vegetable oils and fertiliser, thus leading to rapid rise in food prices.
According to Assosia, 10,000 products went up in price over the new year – but this is more than double the number that rose in price during the same period last year.
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