Price of budget food skyrockets as cost-of-living bites

25th October 2022

The prices of the household food essentials in supermarkets across Britain have soared by nearly two-thirds in the last year as a result of the ongoing cost-of-living crisis.

According to new data from the Office for National Statistics (ONS), which showed a sample of 30 everyday essential products purchased from the cheapest online supermarket ranges, reported a 17% rise in cost in the 12 months to September.

As a result, the cost of the lowest-priced vegetable oil had skyrocketed 65%, with the cheapest pasta was now 60% more expensive compared to a year ago.

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The price of the cheapest tea spiked by 46%, with chips and bread increasing by 39% and 38%, respectively.

The price of biscuits were also up by 34%, the data revealed.

“While the recent spike in inflation began with energy prices, today’s fresh insights using a new innovative data source show they are now filtering through to other important items, with the cheapest price of some staple food items rising by around two thirds in the last year.” national statistician Sir Ian Diamond said.

“Figures from our near real time survey of people show that while rises in food and energy costs are affecting many people across the country, those who are disabled, from certain ethnic minority backgrounds and renters are among those struggling the most.

“With rises in the cost of living at the forefront of many people’s minds, our new, almost real time, data showing just how prices are changing and shining a light on how different groups are affected have never been more important.”

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