Research reveals a significant increase in essential food prices in the UK over the past two years.
- Food price inflation, though slowing, still remains a significant concern for consumers.
- The most affected items include milk, cheese, butter, and bakery products, which have seen substantial price rises.
- Supermarkets have responded by increasing budget and own-brand product offerings to help mitigate consumer costs.
- Consumer groups highlight the need for affordable essentials amid ongoing cost-of-living challenges.
In recent research conducted by Which?, it has been identified that food prices for essential items such as cheese, butter, and bread have risen by more than 30% over the past two years in the UK. This finding highlights a considerable financial strain on households despite a general deceleration in food price inflation in recent months.
Food inflation has observed a slight reduction, dropping to 14.9% in the four weeks leading up to 9 July, down from 16.5% in the previous month. Nevertheless, the prices of staple items continue to surge. Milk prices, for instance, have increased by 36.4%, while cheese and butter have seen increments of 35.2% and 32.2% respectively. The bakery sector has not been spared, with cakes, cookies, and other bakery products experiencing inflation rates above 30%.
Additionally, meat and vegetable prices have escalated by 23.6% and 19.1% since 2021. Similarly, the prices of savoury pies, pastries, and quiches have surged by 26.2%. Other categories such as biscuits and juice drinks have also seen significant hikes, with prices rising by 27% and 28.6% respectively.
In light of these challenges, consumer groups have welcomed moves by major supermarket chains to increase the availability of budget-friendly products. For example, Tesco’s recent announcement to expand its own-brand and value ranges in convenience stores is a step towards alleviating consumer pressure. Furthermore, Morrisons’ roll-out of its Savers range in convenience stores is similarly aimed at helping low-income families manage the cost-of-living crisis.
Sue Davies, head of food policy at Which?, emphasised the enduring high costs of essential goods such as milk and butter, despite some price cuts in the market. She pointed out the significant pressure these costs place on millions of people and stressed the importance of access to budget ranges to aid consumers in saving money.
The persistent rise in essential food prices underscores the critical need for more affordable options in the consumer market.
