Chocolate Costs Soar, Outpacing General Food Inflation
In a bitter twist for sweet-toothed consumers, chocolate prices have surged by a staggering 11% over the past year, casting a shadow over Halloween preparations. This increase significantly outpaces the overall rise in supermarket food and drink prices, which saw a more modest 2.7% uptick in the year leading to August.
Root Cause: Cocoa Crisis
The primary culprit behind this chocolate price hike is the soaring cost of cocoa. Poor harvests in West Africa, attributed to adverse weather conditions, have pushed cocoa prices to unprecedented levels.
Notable Price Increases
Consumer watchdog Which? has highlighted several dramatic price jumps:
Sainsbury's No Added Sugar Milk Chocolate (100g): Nearly doubled from 95p to £1.84
Asda's Moo Free Dairy Free & Vegan Original Chocolate Bar (80g): Up 60% from £1.50 to £2.40
Prestat Chocolates & Truffles Assortment (210g) at Ocado: Skyrocketed 88% to £32
Cadbury Family Treatsize Multipack (216g) at Sainsbury's: Jumped 48.8% from £2.50 to £3.72
Twix Caramel & White Chocolate Fingers Biscuit Snack Bars Multipack at Asda: Rose 42% from £1.65 to £2.35
Broader Food Inflation Context
Which? reports that overall food and drink prices have increased by 16.6% in the three months ending August 2024 compared to 2022 levels.
Consumer Advice
Ele Clark from Which? advises consumers to "shop around" to find the best value, especially in the lead-up to Halloween.
Supermarket Responses
Asda maintains its position as "consistently recognised as the best-value traditional supermarket in independent price comparison surveys."
Sainsbury's emphasizes its commitment to "offering our customers great choice and value when they shop with us."
As Halloween approaches, consumers may need to dig deeper into their pockets for their chocolate treats, making this year's celebration a bit more tricky than treaty.
Chocolate Costs Soar, Outpacing General Food Inflation
In a bitter twist for sweet-toothed consumers, chocolate prices have surged by a staggering 11% over the past year, casting a shadow over Halloween preparations. This increase significantly outpaces the overall rise in supermarket food and drink prices, which saw a more modest 2.7% uptick in the year leading to August.
Root Cause: Cocoa Crisis
The primary culprit behind this chocolate price hike is the soaring cost of cocoa. Poor harvests in West Africa, attributed to adverse weather conditions, have pushed cocoa prices to unprecedented levels.
Notable Price Increases
Consumer watchdog Which? has highlighted several dramatic price jumps:
Sainsbury's No Added Sugar Milk Chocolate (100g): Nearly doubled from 95p to £1.84
Asda's Moo Free Dairy Free & Vegan Original Chocolate Bar (80g): Up 60% from £1.50 to £2.40
Prestat Chocolates & Truffles Assortment (210g) at Ocado: Skyrocketed 88% to £32
Cadbury Family Treatsize Multipack (216g) at Sainsbury's: Jumped 48.8% from £2.50 to £3.72
Twix Caramel & White Chocolate Fingers Biscuit Snack Bars Multipack at Asda: Rose 42% from £1.65 to £2.35
Broader Food Inflation Context
Which? reports that overall food and drink prices have increased by 16.6% in the three months ending August 2024 compared to 2022 levels.
Consumer Advice
Ele Clark from Which? advises consumers to "shop around" to find the best value, especially in the lead-up to Halloween.
Supermarket Responses
Asda maintains its position as "consistently recognised as the best-value traditional supermarket in independent price comparison surveys."
Sainsbury's emphasizes its commitment to "offering our customers great choice and value when they shop with us."
As Halloween approaches, consumers may need to dig deeper into their pockets for their chocolate treats, making this year's celebration a bit more tricky than treaty.