Chocoholics are facing a significant surge in prices for festive treats, with some items jumping by up to 72% compared to last year, according to recent research. The analysis by consumer group Which? revealed a noticeable increase in the cost of various seasonal essentials. Which? monitors over 25,000 food and drink products across eight major supermarkets throughout the year.
Among the categories examined, chocolate stood out as the most affected by inflation, experiencing an average price hike of 14.2% over the past year. Factors such as poor cocoa harvests and supply chain challenges are believed to contribute to the price spikes.
Notably, popular products like Lindt Lindor milk chocolate truffles and Lindt Milk Chocolate Teddy Christmas Tree Decorations have seen substantial price escalations at retailers like Asda and Morrisons. Additionally, items like Terry’s Chocolate Orange Dark Ball at Tesco have also witnessed significant price increases.
In another category, the cost of Christmas turkeys has risen by 4.7% year-on-year. Issues such as bird flu outbreaks and escalating operational expenses for farmers are impacting individual turkey prices, with some products showing a notable cash increase.
The Which? study highlighted that prices at Waitrose have seen the highest rise over the past year, increasing by 6.2%, while Asda recorded the lowest inflation rate at 3%, outperforming discount competitors Aldi and Lidl.
Reena Sewraz, Which? Retail Editor, emphasized that individual item price spikes of up to 70% are not always reflected in general inflation figures. She advised consumers to consider shopping at budget-friendly supermarkets like Aldi, Lidl, and Asda to save money during the festive season.
Representatives from Asda and Morrisons stressed their commitment to offering quality products at affordable prices, with Asda pointing out its consistent efforts to maintain low prices for all customers, especially during times of financial strain.
Morrisons also highlighted its loyalty program benefits, including discounts, personalized offers, and rewards for customers. The message from both retailers emphasized their dedication to providing value to shoppers, both during the holiday season and throughout the year.