Biscuit prices likely to rise, warns McVitie’s

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The price of some of the country’s biscuits are expected to rise as much as 5%, as a result of rising cost of sugar and other key ingredients.

According to Pladis, the parent company of biscuit brand McVitie’s, costs have risen so much that it might have to pass them on to shoppers.

Part of the price rise is down to higher commodity costs. In the UK, the price of palm oil, wheat and sugar have all spiked, with prices rising by around 15%.

This result in customers having to shell out more for their Jaffa Cakes, Hobnobs and other favourite biscuits.

READ MORE: McVitie’s Tollcross factory at threat of closure

Although the chocolate-covered digestive is more safe from any price changes.

“We’ve dealt with substantial challenges in the past in the food industry but it’s the combination of these issues, as well as the scale of some of them that is unprecedented,” Pladis UK managing director David Murray said.

“Like many other categories faced with this scale of inflation, we can’t ignore that costs have gone up and this may flow through to higher prices.”

Meanwhile, the FMCG giant has also faced the Covid-19 pandemic, which left many employees unable to work. Covid has also put pressure on supply chains around the world, including those supplying biscuits.

The price rise is only one of several that are likely to hit consumers in coming months.

The Office for National Statistics estimates that inflation – which measures increases in the cost of living for many families, hit 4.6% in the 12 months to November.

Energy bills are set to rise by further hundreds of pounds from April next year, putting even more pressure on struggling households across the UK.

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