UK households with granulated white sugar and olive oil in kitchen 'warned'

James Rodger
·2-min read

UK households with granulated white sugar and olive oil in their kitchen have been warned. The latest report by BravoVoucher has shed light on the products set to rise in price by 2030 and the figures are based on previous research using data from the Office for National Statistics.

According to BravoVoucher, by 2030, olive oil is expected to be one of the most impacted products. Its price has risen by 113.8 per cent between 2019 and 2024, reaching £8.04 per litre by March 2024.

By 2030, olive oil prices could potentially more than double to around £17.19. However, if inflation slows, prices could only rise very slightly to £9.05 by 2030 The price of granulated white sugar has risen by 67.6 percent, reaching £1.19 per kg in March 2024.

READ MORE UK tourists on holiday in Majorca in July and August slapped with 'water cut'

By 2030, prices could increase to approximately £1.99 per kg if inflation persists, or £1.34 if inflation is controlled. “Supply is difficult and not sufficient to meet demand,” said Walter Zanre, the UK boss of Filippo Berio, one of the world’s biggest olive oil producers.

The Italian trade body the Associazione Granaria di Milano said bottlers were being forced to replenish depleted stocks, driving up wholesale prices again in recent weeks, after a period of stability since a big price jump in January. “When we get to the other side of the summer it could light the blue touch paper and [wholesalers] will be able to charge whatever they like for what is left,” Zanre said.

Zanre said Filippo Berio would be bringing in oil from South America for the second year in a row to support production. But the olive oil expert spoke out earlier this year and also added that buying up stock there was more difficult this year because of restrictions on supply in Argentina and Chile.

  • Up next
  • Up next
  • Up next
  • Up next

Latest stories

  • Forget the manifesto, the double death tax is coming

    The rush to effect “change” in the next 100 days will become irresistible and the need to tear up the Labour manifesto to justify painful taxes on pensions, savings and “wealth” held in assets will play out.

  • The spectre of Liz Truss will hang over this Parliament

    This was a general election of enormous interest to students of statistics as well as politics. Labour’s majority of 172 is, of course, historically large – and that is what is rightly dominating the post-election headlines.

  • Ukraine goes to war... with Western moneymen

    For months, the West’s most respected military experts have been insisting that Vladimir Putin’s war machine is close to running out of steam in Ukraine. However, it is a prediction that seems completely at odds with the reality of life for millions of Ukrainians living close to the frontline.

  • The broken promises that prove why you can’t trust Labour with your money

    Sir Keir Starmer has entered Downing Street – nearly 30 years since Tony Blair first strode into Number 10.

  • Here’s a 75p penny stock that has the potential to almost triple!

    Zaven Boyrazian looks at an up-and-coming natural resource penny stock that's potentially on track to thrive as demand for copper surges with EVs. The post Here’s a 75p penny stock that has the potential to almost triple! appeared first on The Motley Fool UK.

  • If it wants growth, Labour will have to break the rules

    Bliss was it in that dawn to be alive ... OK, so even for committed Labour Party supporters, this is not exactly a Tony Blair moment.

  • Election 2024: Which taxes will go up under Starmer’s Labour government?

    Tax and spend was one of the major points of contention during the election campaign. What will a Labour landslide mean for your taxes?

  • Tesla makes it onto Chinese government purchase list

    For the first time, Chinese government workers will be able to purchase Tesla’s Model Y for official use. Specifically, officials in eastern China’s Jiangsu province included the Model Y in a government procurement list, which was also reported in the state-owned publication The Paper. As the only foreign-owned electric vehicle company on the list, Tesla’s inclusion is a sign that the company’s efforts to win over the Chinese government are paying off.

  • Benn pledges to forge new relationship after meeting O’Neill and Little-Pengelly

    The new NI Secretary hosted the region’s First and deputy First Ministers at Hillsborough Castle on Saturday evening.

  • Carmakers unhappy after EU hits China with tariffs on electric vehicles

    The European Union has slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of "unfair" state subsidies, despite Beijing's warnings the move would unleash a trade war. But company reps in both China and Europe are critical of the steps. Brussels launched an investigation last year into Chinese electric vehicle manufacturers to probe whether state subsidies were unfairly undercutting European automakers.Since announcing the planned tariff hike last month, o

  • Starmer urged to focus on climate and economy in Scotland

    Pressure groups have laid out their demands of the incoming Labour government.

  • June jobs report: US labor market adds 206,000 jobs, unemployment rate rises to 4.1%

    The June jobs report comes at a crucial moment as economists debate whether the US labor market is still normalizing to pre-pandemic levels or showing the early signs of a broader slowdown.

  • Fed’s Powell Testifies as Inflation, Hiring Cool

    (Bloomberg) -- Jerome Powell is likely to tell lawmakers that Federal Reserve officials need further confirmation inflation is slowing before they’re in a position to cut interest rates, even with evidence building of softer growth and employment.Most Read from BloombergBiden Narrows Gap With Trump in Swing States Despite Debate LossSingapore Is Making Life Tougher for Global TalentIran Elects President Who Wants to Revive Nuclear Talks With WestLe Pen Party Seeks Major French Election Win: What

  • NFP: What are analysts saying

    The latest Non-Farm Payroll (NFP) report for June has landed, and analysts have been quick to release notes interpreting the implications for the U.S. economy.

  • How Europe Grew a Spine

    Amid the messy elections in the U.K. and France, it’s easy to miss Europe’s slow and steady progress into a more coherent and purposeful global actor, Christopher Smart writes.

  • China's BYD acquires 20% stake in Thai dealer Rever Automotive

    China's BYD will acquire a 20% stake in its local distributor Rever Automotive in Thailand, its largest market outside of China where it is an electric vehicle market leader, the companies said Saturday. The Shenzhen-based automaker opened its first factory in Southeast Asia in Thailand this week. Rever Automotive, which has over 100 showrooms in Thailand, launched the sale of BYD vehicles in 2022 and BYD soon became the country's top-selling EV brand.

  • Oil Posts Weekly Gain as Hurricane, Stockpile Drop Extend Rally

    (Bloomberg) -- Oil posted its fourth straight weekly advance, with declining US stockpiles and Hurricane Beryl extending crude’s early-summer rally.Most Read from BloombergBiden Narrows Gap With Trump in Swing States Despite Debate LossSingapore Is Making Life Tougher for Global TalentIran Elects President Who Wants to Revive Nuclear Talks With WestLe Pen Party Seeks Major French Election Win: What to WatchPrivate Credit Funds With No Skin in Game a Worry: Credit WeeklyWest Texas Intermediate fe

  • June jobs data could factor into a July rate cut: Economist

    Nonfarm payrolls rose above expectations in June, with the US Bureau of Labor Statistics reporting 206,000 new jobs compared to the expected 190,000. However, the US unemployment rate ticked up to 4.1%, higher than the estimated 4.0%. RSM chief economist Joe Brusuelas joins Morning Brief to discuss the print and what it means for the overall health of the economy. "This is what full employment looks like. This is what you want to see. This is a very good number," Brusuelas says. He explains that the print is good news for the Federal Reserve, as the economy is responding to higher interest rates and cooling down: "A policy rate in a range between 5.25% and 5.5% is no longer appropriate for an economy that has an inflation rate of 2.6% — taken out to three decimals is 2.563%. Moreover, growth is cooling, hiring is cooling, the economy is normalizing. We're moving back to that pre-pandemic trend." Brusuelas adds, "I'm more comfortable with the Fed actually hinting in July that they were going to go in September. If I'm a Fed member, I'm actually thinking about July. They want to get out in front of what's going to be a decelerating job market." He anticipates inflation to hit 2.3% by the end of the year, stating "we're within shouting distance" of the Fed's target of 2%. While many have their sights set on September for the first rate cut, he says, "I'm comfortable even with them considering July at this point, because I do think the economy is just normalizing. I want to be clear here, guys: This isn't a crack in the job market. It's not the economy's foundations cracking. We're moving back to trend." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl

  • Middle-income families feel 'high level of stress' about savings

    Two-thirds of American middle-income families feel they are falling behind the rising costs of living in the US, according to data from Primerica. Though a tick down from last year's sentiment of 71%, this is still a worrying figure as more Americans are dealing with price pressures tied to housing costs and food prices. Primerica (PRI) CEO Glenn Williams talks more about the data with Brad Smith, stating "we also detect a high level of stress financially from these families" as US consumers reprioritize their spending. "As we sit down with families, clearly they know they need to be saving for the future, particularly for retirement. They need to make sure debt doesn't get out of control. But we see them in action. We sit down with them and first analyze where they are today. And that's where it exposes that. What sometimes they think is happening is not exactly what's happening. They're spending more than they think. They're using credit more, they're saving less, or the amount that they're saving is not going to get them where they want to go in time," Williams elaborates. "And then as families get started, they get a little momentum. And then they find out it's easier to take the next step and the next step. We find out that, Brad, it's not usually the information, it's the personal application of the information to their specific circumstances that confuse families. And then it's the motivation to act and continue to act that families need." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Luke Carberry Mogan.

  • US Bond Yields Fall as Jobs Data Fuels Bets on Two 2024 Fed Cuts

    (Bloomberg) -- Traders are once again betting that Federal Reserve officials will lower interest rates twice this year as a mixed report on the US labor market drags US Treasury yields lower.Most Read from BloombergBiden Narrows Gap With Trump in Swing States Despite Debate LossSingapore Is Making Life Tougher for Global TalentIran Elects President Who Wants to Revive Nuclear Talks With WestLe Pen Party Seeks Major French Election Win: What to WatchPrivate Credit Funds With No Skin in Game a Wor