Research has shown that the cost of chocolate goodies – and other Easter food – has soared in price in the past year in yet another blow to hard-pressed family budgets
The price of Lindt chocolate bunnies – a firm favourite at Easter – has surged by 15 times the rate of the inflation in the past year.
Research by consumer group Which? found the average price of the milk chocolate treat has jumped by around 44% in some supermarkets.
That compares to overall inflation of 3% in the 12 months to February, or the average 3.6% rise in the price of food and drink.
One reason for at least some of the hike could be a previous increase on cocoa prices driven by poor harvests in some key growing regions.
However, cocoa costs have since tumbled, partly because of falling demand for chocolate in Europe and the US. Reports suggest the price shoppers are paying for chocolate now may be because manufacturers are recouping the past spike in raw ingredient costs.
According to Which?, a 50g milk chocolate Lindt Gold Bunny at Morrisons cost £3.25 in February, up from £2.25 a year ago. A 200g Lindt Gold Bunny at Asda had jumped by £5.44 to £7.87, it found.
Meanwhile, a five pack of 10g Lindt Gold Bunnies at Morrisons had gone from £2.79 to £4. And a 160g Lindt Gold Bunny Hunt Pack at Sainsbury’s had soared in price from £8.50 to £12.
Separate data from the The Energy and Climate Intelligence Unit found the average price of popular Easter chocolates has risen by two thirds in just three years, with some eggs more than doubling in price.
But other figures from Worldpanel by Numerator suggests the average price paid for an Easter egg this year is £3.27, up by a more modest 9% on last year.
Fraser McKevitt, its head of retail and consumer insight, said: “While the pace of chocolate price inflation eased again – down to 8.0% from 9.3% last month – continued price pressures mean the average amount paid for an Easter egg was 9% higher than last year, up to £3.27. Despite this, there is no sign of shoppers choosing smaller eggs though, with an average weight of 162g, a marginal increase on last year.”
They were among a host of products that Which? found had risen sharply in price since last Easter. It also found Castle MacLellan Smoked Salmon Pâté in a 100g pack at Asda cost £1.50 a year ago but £3.48 now, a 132% leap. Also at Asda, a 200g package of its own brand Just Essential cheddar slices had jumped 114%, from 65p to £1.39.
At Sainsbury’s, a 400g Paterson’s Shortbread and Biscuit Assortment had been £2 but a year on cost £3.75, a rise of 88%. At Tesco, its Finest Barrel Aged Feta 250g had gone from £2.62 to £4.40, a rise of 68% year-on-year.
The examples of sharp increase come amid warning that food inflation, which had eased, could be driven up by the fall-out from the Middle East war. The Food and Drink Federation this week hiked its forecast for how much shop prices could rise by to as much as 10%, even if the conflict is resolved in the next two to three weeks.
Reena Sewraz, Which? retail editor, said: “It is worrying to see that while overall inflation has slowed, families are still being faced with grocery staples that have doubled in price at the supermarket and Easter favourites like Lindt bunnies have jumped by over 40% year on year. The best way to beat the supermarket squeeze is to vote with your trolley – stick to the discounters, swap big brands for own-label, and always check the unit price to make sure you aren’t being short-changed at the checkout.”
A Sainsbury’s spokesperson said, “We know Easter is a time many come together which is why we are focused on giving customers brilliant value with trusted quality. Our delicious By Sainsbury’s Hot Cross Buns in our Aldi Price Match scheme are just 95p – over 12% cheaper than last year.
“We’re continuing fantastic offers as the Easter break approaches with Nectar Prices, including 25% off our extra-large Taste the Difference Easter Eggs and half price or better on By Sainsbury’s Whole Leg of Lamb, By Sainsbury’s Beef Joint and By Sainsbury’s Side of Salmon.” The Lindt Gold Bunny Hunt Pack is £8.50 for Nectar card holders.
Tesco said it was committed to keeping the cost of the weekly food shop affordable for its customers. It stressed its Aged Feta was competitively priced compared to similar products sold at other retailers. Which? says it also contacted Asda and Morrisons. Asda’s website now shows the 200g Lindt bunny reduced to £6.
