Cost of living crisis: Basket of food shows how much food prices have rocketed in just one year
This basket of food has increased in price by nearly a fifth in just one year, with one of the items rocketing in cost by 79 per cent.
The rocketing price of everyday food products bought at a popular supermarket in February 2022 and again in February 2023 have laid bare the struggles of the cost of living crisis. In total, the small basket of 10 items which includes items such as soup, biscuits and tea has risen in price from £14.18 to £16.60 - a percentage increase of nearly 20 per cent.
Seven of the items had gone up by more than the current Consumer Prices Index rate of inflation, which rose by 8.7 per cent in the 12 months to April 2023, down from 10.1 per cent in March, according to the Office For National Statisics (ONS). It’s the first time inflation has dropped below double digits since August last year.
However, there are still concerns over the rate at which food prices are rising, with Chancellor of the Exchequer Jeremy Hunt stating today (May 24) they remain “worryingly high”. He told BBC News the new inflation figure was a step in the right direction “but there are things underneath those numbers, which show that this battle is far from over.”
He added: “We have never celebrated anything. Until we achieve our objective to halve inflation, the job is not done.”
The most inflated item in the shop was Heinz Cream of Tomato Soup, which is 79 per cent more expensive than a year ago in the same shop. The only item in the shop to see no increase was a pack of 40 Tetley Teabags which remained the same price at £1.40.
How much prices of 10 every day food items have increased in a year
- Warburtons Medium Sliced White Bread 800g: Increased from £1.10 to £1.40 (27 per cent)
- Jacobs Cream Crackers 300g: Increased from £1.19 to £1.50 (26 per cent)
- Cherry Tomatoes 330g: Increased from 90p to £1.00 (10 per cent)
- Heinz Cream of Tomato Soup 400g: Increased from 95p to £1.70 (79 per cent)
- Tetley 40 Teabags 125g: Remained the same at £1.40 (0 per cent)
- Weetabix Cereal 24 Pack: Increased from £3.00 to £3.25 (8 per cent)
- Hula Hoops Original 6x24g: Increased from £1.75 to £2.25 (28 per cent)
- Pringles Sour Cream & Onion Crisp: Increased from £2.00 for 200g to £1.85 for 165g (12 per cent)
- Mars Bar 51g: Increased from 60p to 65p (8 per cent)
- Mcvittie’s Digestive Biscuits 400g: Increased from £1.29 to £1.60 (24 per cent)
The ONS bases its figures on a basket of goods that reflects what the average person in the UK is buying. So if you are buying a lot of unusual or niche items, you might find the cost of your own bag of shopping is going up faster - or more slowly.