The cost of food and drink has increased at its sharpest rate since 1980, with surges in the prices of many key items in the average household’s shopping basket.
The rise in the cost of groceries has been accelerated by the war in Ukraine, which has pushed up the cost of fertiliser and animal feed due to the impact on grain supply from the region.
Global meat prices have jumped as a result, while the knock-on effect to oil production in the regions has also hit the price of sunflower oil and other fats. Food and drink prices have also been affected by the recent weakness in the pound, which has caused more expensive imported products and ingredients.
Consumer Price Index inflation rose back rose to 10.1 per cent in September, matching July’s 40-year high, according to the Office for National Statistics (ONS). The increase was driven partly by soaring food prices, which rose at their fastest rate since 1980.
Karen Betts, chief executive of the Food and Drink Federation, added: “Food and drink manufacturers continue to do everything they can to keep product prices down, but huge rises in ingredient, raw material, energy and other costs mean they have no choice but to pass some price rises on.”
The Independent compared food prices in Tesco today to 1 April to see how the cost of everyday essentials has changed in the past six months.
Beef mince: up 47%
Meat prices are up globally due to the war in Ukraine as essential animal-rearing products such as fertisiliser and animal feed have shot up forcing supermarkets to increase prices to offset rising costs.
According to our Tesco shop, a 500g pack of beef mince rose 47 per cent from £2.85 to £4.20 in the six months from April to October. This will be a price increase that many families will feel when doing the weekly shop to prepare meals.
Basmati rice: up 46%
Also seeing a steep increase by our shop was basmati rice. A 2kg packet was £2.05 in April but is now £3.00. The UK imports its rice primarily from India and Pakistan so the falling value of the pound would definitely impact the price of rice on supermarket shelves across the country.
Butter: up 37%
Given the rising price of cooking oil and other fats due to the Ukraine conflict, there are no surprises that the price of butter saw a steep increase in our shop. Disruption in the region and limitations on exporting produce puts pressure on supply chains shooting up prices for the average supermarket shopper.
A 400g packet of Bertolli butter was £2.55 in April but shot up 37 per cent since April to £3.50.
Milk: up 19%
Soaring food prices pushed inflation back into double figures in September (Yui Mok/PA)
Milk, an essential shopping item for cereal, tea and cooking, also saw a steep increase in our shop as the price of a 4-pint carton increased almost 20 per cent in just six months. Priced at £1.30 in April, the cost in October is £1.55.
Cereal: up 10%
A box of Nesquik cereal was also subject to price increases – again due to the rising price of grain because of the war in Ukraine. The cost of a box of cereal went from £2.40 in October to £2.65 in October. A price increase of 10 per cent, 25p in cash terms, which may not be significant as one item but will be felt as the total of an overall shopping bill.
Pasta: up 20%
The price of milk has risen sharply
Food prices continue to soar for customers
