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Five food items that are going up in price and why

Five food items that are going up in price and why

Prices for canned colas, potato crisps and cat food also all went up by nearly 6%, or more, at the same time, the data show.

Part of the reason is a hangover from the struggles caused by the pandemic.

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How have you adapted to rising prices? Are you shopping or living your life differently as a result?

Fraser McKevitt, head of retail and consumer insight at Kantar.

explains that price were rising during the height of the pandemic because there was less discounting in supermarkets.

In order to ensure there is stock on the shelves, retailers have used fewer promotions.

That also means people are now far less loyal about where they food shop.

“As prices increase in certain categories, we can expect shoppers to continue to visit several supermarkets and shop around to find the best deals,” he says.

“Already, households visit an average of 3.3 supermarkets per month, in order to find the best value for money.”

The latest price rises are the result of added complexity as they include various issues on the chain of supply.

and in getting products to the shelves.

Why is the cost of living going up?

Food prices in general are rising, but not at the same rate as some other products.

However, the latest Kantar figures show they are still going up faster than at anytime since August 2020.

Supermarkets operate in an extremely competitive environment.

and analysts suggest they will be keen to keep prices down and retain their customers over the vital Christmas trading period.

4. Your heating bill

As the mercury dips, so the cost of heating our homes rises – and it is going to hit some people very hard in coming months.

The cost to suppliers on the wholesale markets soared to unprecedented levels, for reasons which are complex and global.

The effect on your domestic energy bill has been seen in three key ways:

Firstly, a host of suppliers have gone bust. Their customers have been moved to another supplier, but on a more expensive tariff

Secondly, many customers of remaining firms have been told that their monthly direct debit demand is going up

There is protection for customers on variable food tariffs

Scott Byrom, chief executive of price comparison website TheEnergyShop, says: “The bubble has not burst yet.”

While a warm winter may help some suppliers offer better deals than they would otherwise have expected.

everyone should still brace for significant further price rises, he says.

5. Second-hand cars
Motoring group, the AA, says that some cars are gaining in value as they sit on the driveway.

The car market has various dynamics which intersect to drive price trends

The steepest increase was the price of a three-year-old Mini Hatch.

which in 2021 was 57% higher (£15,367) than a model of the same age in 2019 (£9,811).

The main driver (pun intended) for second-hand car prices is pressure on manufacturing new vehicles.

A global shortage of computer chips used in car production.

as well as other materials such as copper, aluminium and cobalt, has led to fewer new vehicles rolling off production lines.

That has meant more buyers turning to the used-car market. Rising demand means rising prices.

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