Data has revealed the cost of coffee has soared with some packs rising by a staggering 62 per cent in little more than three weeks. Pictured: Nescafé Original Instant in Asda has gone up by a third to £6
According to new data, the cost of coffee in supermarkets has increased dramatically since New Years. Some packs have seen a dramatic 62% increase in just three weeks.
Big name brands such as Nescafé and L’Or as well as own labels are among at least 100 different makes and sizes to have seen increases so far this year, said analysts Assosia for The Grocer magazine.
The biggest mark-up is at Sainsbury’s where 165g packs of L’Or Decaf Instant Coffee, Classique Instant and Intense Instant all went up from £4 to £4.25 on January 14 but then rose again to £6.50 on January 22, a total increase of 62.5 per cent since the start of 2022.
Nescafé Original Instant 300g in Asda has gone up by a third to £6 and Gold Blend 200g by 17 per cent to £5.85 at the same chain.
According to The Grocer, the increases can be attributed to inflation and “ongoing” supply chain problems.
Morrisons recorded double-digit price hikes in their instant coffee brand, and Tesco reported a 4 percent increase in their instant espresso brand and capsules.
A spokeswoman for Nestlé told The Grocer it had been ‘experiencing pressure in terms of raw material and price increases so ingredients, packaging and transportation costs are going up.’
“We try to minimize these expenses in the short term,” she said. Our goal is to manage any changes in prices over the long term slowly and responsible.
The rises in inflation have been blamed by manufacturers.
Nescafé Gold Blend by 17 per cent to £5.85 at the same chain. Image: Gold Blend Crema
The current food inflation rate is 5.4%, which is the highest in thirty years. However, many critics claim that official numbers are not representative of real price increases faced by households due to a reduced range of affordable labels and the ending of promotions.
The increase in living expenses has triggered a two-thirds rise in UK adult incomes over the past month, as prices jumped and energy bills rose.
Fresh food prices are rising at their fastest rate in almost a decade – fuelling concerns that struggling families face a nightmare choice between eating and heating.
Healthy fresh produce saw a 3 percentage point increase in December, compared to last year. Retailers have warned of more rises.
Pictured: Recent figures reveal that two-thirds of adult Americans have witnessed their living costs rise in the last month due to rising energy prices and price increases that were reflected on supermarket shelves
The rise, the fastest rate since April 2013, comes at the same time as households face big increases in the cost of heat and light with annual energy bills predicted to soar by £500-£800.
In December 2013, the Office for National Statistics (ONS), revealed that prices for food items and beverages rose by 4.2 percent year over year. It is the highest increase in price since September 2013.
The average price of clothing in shops goes up by 4.2 percent.
Average petrol prices stood at 145.8 pence per litre in December 2021, compared with 114.1 pence per litre in the prior year, i News reports, but prices began to fall towards the end of the month.
According to the ONS, 66% of adult respondents saw their living costs rise.
It also reported the Omicron virus of coronavirus’s impact on UK businesses, showing the greatest proportion of UK-based firms reporting lower monthly turnover since the beginning of April 2020.
Pictured: British households continue to struggle with a high cost of living as petrol, food and energy prices rise across the country
The ONS reported that December’s decline in sales was due to VAT returns.
The household survey revealed that 87% of respondents reported an increase in food costs, and 79% reported rising energy prices.
A poll was conducted between January 6 and 16, where nearly seven-quarters of respondents (71%) stated that fuel prices have also pushed up living costs.
This comes just days after official data on Wednesday revealed that December’s inflation reached a new high of 5.4%, almost 30 years ago.
As households struggled to pay rising food and fuel costs, they took a big step forward.
Experts warn that cost-of living squeezes will become even more severe over the coming months. In April, gas and electricity tariffs could rise to around half the normal rate.
As inflation reached 6% last spring, the Bank of England raised its interest rate from 0.1% and 0.25% to reflect this fact. Further increases in rates are likely to restrain rising prices.