The latest analysis from finance experts, RIFT, has revealed that it’s a tough time to be a veggie, as meat free sausages have seen the steepest price hike of all supermarket items over the last months, while veggie burgers also make the top 10 along with a range of fruit and vegetables.
RIFT analysed data from the Office for National Statistics* looking at the cost of 156 common supermarket items and how they have changed in price to see just what to drop from your supermarket shop if you want to cut back on costs.
The good news is that, on average, the cost of our favourite supermarket items has fallen by -0.7% over the last month, although our shopping basket remains considerably more expensive than a year ago, with the average item up 3.9% on last year – that’s around 20p more per item.
Tough time to be a vegetarian
However, the analysis by RIFT shows that there have been some considerable price hikes in the last month alone, with meat free sausages seeing the sharpest price hike at 11.9%. The bad news doesn’t end there for the nation’s vegetarians with dairy free margarine and frozen veggie burgers also making the top 10 having both seen 6.7% price increase in the last month alone.
What’s more, flavoured water (+7.9%) potatoes (+8.1%), iceberg lettuce (+6.2%), instant coffee (+6%), grapefruit (+5.4%), plums (+5%) and melons (+4.6%) also make the top 10, along with flavoured water.
Cheese boards take a hit with biggest price hikes year on year
When comparing the cost of supermarket items to this time last year, it’s olive oil that has seen the largest price hike, up by a huge 39.4% annually – that’s a jump of over £2!
Plumbs and hot chocolate have also seen some of the most notable price hikes, climbing by 23.7% and 22.3% respectively, with carrots also seeing a jump of more than 20% in price (+21.9%).
The good news for cheese lovers is that cheese doesn’t make the top 10. However, a tipple to accompany your cheese board will cost you considerably more versus last year, with fortified wine climbing by 18.3%.
To add insult to injury, your cheese board condiments will also set you back more today, with vegetable pickle seeing a jump of 18.2% in price.
Sugar (+17.8%), plain biscuits (+15.5%), couscous (+14.3%) and bananas (+13.5%) also rank within the top 10.
Bradley Post, MD of RIFT, said, “While inflation may be easing, many of the items in your supermarket trolley are still more expensive today than they were a year ago.
And it’s seemingly bad news for vegetarians, with both meat free sausages and veggie burgers seeing some of the biggest price hikes over the last month just as we begin to approach BBQ season.
The increased cost of some items may seem marginal on their own, but they all add up and so there’s no doubt that the average household will continue to feel the pinch once they reach the checkout.
So it pays to shop smart and by staying savvy between the isles, you can cut back on costs and make your budget go that bit further.”
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