Staple food prices up by a fifthBasket of items costs 21% more than last July

15 July 2008

A couple reading a food label in a supermarket

Consumers are paying 21% more for staple food items like milk, bread and eggs than they were 12 months ago, new figures show.

The figures, which were complied by comparison website MySupermarket.co.uk, looked at a typical basket of 24 staple items from Tesco, Asda and Sainsbury’s.

It said that if the price hike was applied to a typical £100 weekly shop for a family of four, consumers would end up spending an extra £1,092 a year on their groceries.

Wheat and dairy

Sainsbury’s saw the biggest year-on-year price increase, with its basket of goods costing 25.7% more than compared with last July.

The same 24 items bought from Tesco’s had risen in price by more than 21% in 12 months, while Asda’s basket of items went up by just over 15% over the same period.

But MySupermarkket.co.uk said this month’s price hike was the same as June’s year-on-year increase, which suggested supermarkets were attempting to keep prices down.

Tight budget

The director of MySupermarket.co.uk, Johnny Stern, said: ‘We're still seeing phenomenal price rises in wheat and dairy based products, however there is no question that supermarkets are doing what they can to help consumers combat the crunch.

‘We would advise shoppers trying to stick to a tight budget to look out for better priced like-for-like items and special offers within the supermarket you already shop at.

‘There are significant and regular savings to be had to combat the crunch.'

Meanwhile, a new survey has revealed that nearly nine out of 10 Britons are taking steps to try to offset the rising cost of living.

Cost of living

The poll from high street bank Abbey found that around 86% of people had made changes to save money.

Half of those polled said they were buying fewer CDs, DVDs and clothes, while 37% are going to restaurants less, 29% using their car less and 21% taking a packed lunch to work.

A further 12% of people said they planned to take on an extra job to raise additional funds, and 30% plan to sell some of their possessions.