Budget Items See Highest Increase Amid Cost of Living Crisis

  • Food and drink inflation in supermarkets surged 17.2% in March
  • Price of porridge oats increased by 35.5%
  • Cheddar cheese rose 28.3% on average
  • White bread prices went up by 22.8%
  • Pork sausages increased by 26.8%
  • Asda’s Just Essentials range jumped 73.5%
  • Tesco’s value Woodside Farms rose 73.3%
  • Supermarket own-label budget items up 24.8% compared to last year
  • Branded goods and premium own-brand ranges increased by 13.8%

Food and drink inflation in supermarkets reached a staggering 17.2% in March, according to data from Which?. Porridge oats saw a 35.5% price hike, cheddar cheese rose by 28.3%, and white bread increased by 22.8%. Pork sausages experienced an average increase of 26.8%. Asda’s Just Essentials range soared 73.5%, while Tesco’s Woodside Farms climbed 73.3%. Supermarket own-label budget items rose 24.8% compared to the same period last year, contrasting with standard supermarket own brands that increased by 20.5%. Branded goods and premium own-brand ranges both went up by 13.8%. Sue Davies, head of food policy at Which?, commented on the situation: ‘Our latest supermarket food and drink tracker reveals a grim picture for households skipping meals due to inflation’s impact on supermarket prices. The poorest are hit hardest by the cost of living crisis. Supermarkets can do more to support struggling individuals, including ensuring affordable food options near high-need areas.’

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about the increase in food and drink inflation across various supermarkets and includes quotes from an expert source to support the claims made.
Noise Level: 3
Noise Justification: The article provides relevant information about the increase in food and drink inflation rates across various supermarkets and highlights the impact on households struggling with the cost of living crisis. It also quotes an expert’s opinion on the issue. However, it could benefit from more analysis or context on why these price increases are happening and potential solutions to address the problem.
Financial Relevance: Yes
Financial Markets Impacted: Supermarkets and consumer goods companies
Financial Rating Justification: The article discusses inflation in food and drink prices across various supermarkets, which can impact the financial performance of these companies and potentially affect consumer spending on related stocks.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: The article discusses inflation and rising food prices, but it does not mention an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk