Chocoholics have witnessed significant price hikes of up to 72% on some holiday treats compared to last year, according to recent research findings. This increase in prices extends beyond chocolates, as other seasonal essentials have also experienced notable cost escalations. The research conducted by consumer group Which? revealed that prices of various food and drink products in supermarkets have been on the rise.
Specifically focusing on chocolate products, the research highlighted a substantial average price increase of 14.2% in the past year, attributing this trend to factors such as poor cocoa harvests and supply chain disruptions. For instance, a Lindt Lindor milk chocolate truffles treat box (37g) at Asda has surged from £1.15 to £1.98, marking a steep 72.2% price surge. Similarly, at Morrisons, the cost of Lindt Milk Chocolate Teddy Christmas Tree Decorations has surged from £3.50 to £6, representing a significant 71.4% increase.
Moreover, the study pointed out notable price jumps in the Christmas turkey category, with an overall 4.7% year-on-year increase in prices for fresh whole birds and other cuts. Factors like bird flu outbreaks and escalating operational expenses for farmers have contributed to these price fluctuations. Notably, a Tesco Finest Free Range Bronze Turkey Crown Medium (2.99kg) saw one of the largest cash increases identified by Which?, rising by £14.95 from £53.82 to £68.77, translating to a 27.8% percentage increase.
The research also revealed that prices at Waitrose experienced the highest surge at 6.2% over the past year, while Asda recorded the lowest increase at 3%, outperforming even discount competitors like Aldi and Lidl.
Reena Sewraz, Which? Retail Editor, emphasized the importance of scrutinizing individual item prices amid overall inflation figures, urging consumers to consider budget-friendly options like Aldi, Lidl, and Asda for cost-effective shopping. Additionally, she highlighted the significance of monitoring unit prices to ensure value for money across different products and ranges.
Responding to the findings, an Asda spokesperson emphasized the supermarket’s commitment to maintaining low prices for customers throughout the year, particularly during the festive season. Similarly, a Morrisons spokesperson reiterated the brand’s dedication to offering quality products at affordable prices, highlighting additional benefits for More Card members.
Overall, the research underscores the need for consumers to stay vigilant about price changes and consider budget-friendly shopping options to navigate cost fluctuations, especially during the holiday season.