Tuesday, April 18, 2023
The disproportionate impact of inflation
Inflation may be running at around 10% at the moment, but for some basics it is much higher than that. The Guardian reports that the price of staple foods such as cheddar cheese, white bread and pork sausages has soared by up to 80% in some shops over the past year, in further evidence of how inflation is hitting those on the tightest budgets the hardest.
The paper says that porridge oats topped the price increase ranking among a basket of British basics measured by the consumer group Which?, with prices up by an average of 35.5% followed by skimmed milk, which was up by 33.6%, and cheddar cheese, which rose by 28.3%:
However, an 180g pack of Dragon cheddar cheese in Asda was priced 80% higher than a year before – putting it top of the study’s inflationary list for individual product lines. The same retailer’s own-label cheddar sticks were up by just under 79%. Asda’s budget Just Essentials pork sausages were up by 73%, a similar increase to Tesco’s Woodside Farms best-value pork sausages.
Sue Davies, the head of food policy at Which?, said: “Our latest supermarket food and drink tracker paints a bleak picture for the millions of households already skipping meals of how inflation is impacting prices on supermarket shelves, with the poorest once again feeling the brunt of the cost of living crisis.
“While the whole food chain affects prices, supermarkets have the power to do more to support people who are struggling, including ensuring everyone has easy access to basic, affordable food ranges at a store near them, particularly in areas where people are most in need.”
The Which? survey reflects a recent trend for price rises in supermarkets’ budget ranges as well as to their regular own-label goods and international brands as retailers pass on cost hikes linked to energy and commodity cost increases.
Such increases appear to confirm fears, raised over a year ago by the food campaigner Jack Monroe, that the poorest are being hit hardest by inflation.
Which?’s tracker shows that while supermarket own-label budget items remain the cheapest overall, prices rose 24.8% in March year on year. The price of standard supermarket own brands was up by 20.5% in the same period, while branded goods and premium own brand ranges rose by 13.8%.
Year-on-year price increases for all groceries reached an all-time high of 17.5% in the four weeks to 19 March, according to figures from the data firm Kantar.
Analysis of government data by Labour also found dramatic increases in the wholesale price of everyday fruit and vegetables with carrots up 80% since 2019, cauliflowers 161% and tomatoes 142%.
It is little wonder that public sector workers, including teachers and nurses, want pay increases that reflect the rising cost of living their daily lives. Isn't it time the government gave them a decent pay award?
The paper says that porridge oats topped the price increase ranking among a basket of British basics measured by the consumer group Which?, with prices up by an average of 35.5% followed by skimmed milk, which was up by 33.6%, and cheddar cheese, which rose by 28.3%:
However, an 180g pack of Dragon cheddar cheese in Asda was priced 80% higher than a year before – putting it top of the study’s inflationary list for individual product lines. The same retailer’s own-label cheddar sticks were up by just under 79%. Asda’s budget Just Essentials pork sausages were up by 73%, a similar increase to Tesco’s Woodside Farms best-value pork sausages.
Sue Davies, the head of food policy at Which?, said: “Our latest supermarket food and drink tracker paints a bleak picture for the millions of households already skipping meals of how inflation is impacting prices on supermarket shelves, with the poorest once again feeling the brunt of the cost of living crisis.
“While the whole food chain affects prices, supermarkets have the power to do more to support people who are struggling, including ensuring everyone has easy access to basic, affordable food ranges at a store near them, particularly in areas where people are most in need.”
The Which? survey reflects a recent trend for price rises in supermarkets’ budget ranges as well as to their regular own-label goods and international brands as retailers pass on cost hikes linked to energy and commodity cost increases.
Such increases appear to confirm fears, raised over a year ago by the food campaigner Jack Monroe, that the poorest are being hit hardest by inflation.
Which?’s tracker shows that while supermarket own-label budget items remain the cheapest overall, prices rose 24.8% in March year on year. The price of standard supermarket own brands was up by 20.5% in the same period, while branded goods and premium own brand ranges rose by 13.8%.
Year-on-year price increases for all groceries reached an all-time high of 17.5% in the four weeks to 19 March, according to figures from the data firm Kantar.
Analysis of government data by Labour also found dramatic increases in the wholesale price of everyday fruit and vegetables with carrots up 80% since 2019, cauliflowers 161% and tomatoes 142%.
It is little wonder that public sector workers, including teachers and nurses, want pay increases that reflect the rising cost of living their daily lives. Isn't it time the government gave them a decent pay award?
