Tesco food price rises accelerate


The rate at which food prices are rising at Tesco has nearly doubled in the last month, according to a new survey by the price comparison website, mysupermarket.co.uk.


The survey, which compares online prices at Tesco, Asda and Sainsbury’s for a basket of 24 food staples, found Tesco’s prices increased by 14.5% between 21 April 2007 and 21 April 2008 compared with a 7.9% rise between March 2007 and March 2008.

Shopping at Sainsbury’s has also become more expensive in the last four weeks.

According to the survey, its prices increased by 9.8% between March 2007 and March 2008 but were 16% dearer in April 2008 compared with a year ago.

Prices at Asda remained consistent across the two-month period, increasing by 15.3% between March 2007 and March 2008 and between April 2007 and April 2008.

On average, prices at the top three supermarkets have increased by 15% between April 2007 and April 2008. That’s up from an average 11% increase between March 2007 and March 2008.

The survey compares prices across a basket of largely standard own label lines including bread, fruit, vegetables, pasta and rice.

It found milk prices have increased by 16.7% in the last year and butter is 62.1% more expensive. The cost of mild Cheddar cheese is up by 25.6%, rice is up by 61.1% and pasta up by 81.1%.

Johnny Stern, director of MySupermarket.co.uk, said: “Once again we’re seeing increases in the price of the average family’s food basket, with wheat and dairy based products going up as much as 61%.

“Many families already struggling under the pressure of rising costs are seeking ways to cut their grocery bills. The challenge is that whichever supermarket you shop in, product prices are constantly moving and it’s very difficult to manually keep track of the best-priced products.”

Similar News Items

Comment on this story:

*

Your comment:

Please type the characters shown below:

TalkingRetail.com, Metropolis Business Publishing, 6th Floor Davis House, 2 Robert Street, Croydon, CR0 1QQ
TalkingRetail.com and Independent Retail News are published by Metropolis International Group Ltd, 140 Wales Farm Road, London, W3 6UG.
Registered in England no. 2916515

v3.0