Food inflation: Which items have increased in price as Bisto gravy price hike angers customers
The cost of living has steadily increased across the UK since the start of 2021, reaching an eye-watering 11.1 per cent in October – a 41-year high.
As such, soaring prices can be seen almost everywhere, particularly when it comes to food, with the cost of groceries now keeping inflation at a 40-year high.
Former deputy governor of the Bank of England Sir John Gieve has stated he believes the Government can stay on track when it comes to halving inflation by the end of the year.
But, until then, many Britons are struggling to put food on the table.
Overall, food and drink inflation went up 15 per cent year-on-year in December across most leading supermarkets.
Food prices rose 16.8 per cent in the year to December during the festive season, according to the Office for National Statistics (ONS).
The rate of inflation has fallen for the second month in a row - but the cost of food is sill rising https://t.co/Dp2zCvMwsd
— LBC (@LBC) January 18, 2023
Alongside the big hitters for eye-watering prices, consumers have seen a large jump in prices for basics, including honey, sugar, jam, chocolate, and soft drinks.
But what products have seen the biggest increases?
Biggest price hikes in food
Foods with the biggest price jump include:
Savoury pies, pastries, and quiches
Butter and milk have seen the biggest inflation, rising to almost double in certain stores, with Utterly Butterly seeing a huge hike from £1 to £1.95 in several supermarkets, and Waitrose Duchy Organic Homogenised Semi-Skimmed Milk rising 87.1 per cent from 65p to £1.22, and security tags added to Lurpak in Asda, and selling for as much as £9.35 a tub at Iceland.
A ubiquitous pantry essential, Bisto gravy granules were recently found on Asda's shelves with a price tag of £4.50 for 450 grams. According to customers, Asda’s 200g Just Essentials gravy granules taste very similar for less than half the price.
Cheese is another product with a huge price increase of 22.3 per cent, with Creamfields French Brie at Tesco seeing a 81.6 per cent rise from £1 to £2.88.
According to Which, the tracking watchdog, milk was 26.3 per cent more expensive than the previous year, with pastries seeing higher-than-average price increases of 18.5 per cent.
Baked items account for 19.5 per cent rises, with savoury pies and pastries at around 18.5 per cent, but price growth has fortunately slowed for items, including bread and cereals.
Speaking to the BBC, Sir John said the Bank of England is forecasting an inflation rate of five per cent by the end of the year but added there was a lot of “uncertainty”.
Tesco has acknowledged the inflationary prices hitting food and has said it is “absolutely committed to helping our customers by keeping a laser focus on the cost of the weekly shop”.