Skip to content
Search
AI Powered
Latest Stories

Pasta price doubles as basket of essentials becomes pricier

Pasta price doubles as basket of essentials becomes pricier
iStock image
Getty Images

Price of pasta has doubled in two years, states a recent report, highlighting how food prices will continue to rise throughout 2023.

According to a recent report by BBC, a standard 500g bag of pasta was 50p two years ago and now it is selling for 95p. Total cost of a small basket of 15 everyday essentials, including a mix of everyday essentials like oven chips and strawberry jam to pasta sauce and potatoes, has gone up by £5.34 from £15.79 in 2021 to £21.13 in 2023.


Strawberry jam saw a jump of 57 per cent while oven chips saw 45 per cent rise, shows the report.

Commenting on the numbers, Director at Assosia, Kay Staniland, said that "it's inflation on top of inflation at the moment".

The report comes as experts predict that inflation may have peaked at 11.1 per cent in October but food prices will continue to rise throughout 2023.

According to James Walton, chief economist at the IGD, a research charity in the food and consumer goods industry, it could hit 17-19 per cent in the first half of this year, with the rate of increase starting to fall quickly after that.

"The food supply chain is extremely complicated. The products can change hands many times, before they come to us as the consumer. And so it takes a long time for the costs increases at the start of the supply chain to be passed down all of the steps until we actually encounter them in the store," Walton said.

Prices were rising at the start of 2022. But it was ripple effect of Ukraine war that led to increase in the price of gas as well as disrupting supplies of grains, vegetable oils and fertiliser, thus leading to rapid rise in food prices.

According to Assosia, 10,000 products went up in price over the new year - but this is more than double the number that rose in price during the same period last year.

More for you

Volumatic welcomes new FCA rules safeguarding access to cash

Volumatic welcomes new FCA rules safeguarding access to cash

As industry leaders is cash handling, Volumatic has long supported the use of cash and the importance of maintaining access to cash for both consumers and businesses. The company recognises the importance of the new set of rules created by the Financial Conduct Authority (FCA) two months ago, to safeguard access to cash for businesses and consumers across the UK.

Since introduction, the new rules are intended to ensure that individuals and businesses who rely on cash can continue to access it and the outcome has already sparked the creation of 15 new banking hubs across the UK, including one in Scotland, with many more to follow.

Keep ReadingShow less
Jisp unveils new NPD service

Jisp unveils new NPD service

Retail technology company Jisp has launched an NPD service as part of its new Direct to Retailer business unit.

The new NPD service will allow brands to launch or trial new products in a guaranteed number of convenience store locations, with on the ground review of execution by Jisp’s retail growth manager team, and performance data and insights deliverable through its scanning technology and back-office systems.

Keep ReadingShow less
Tesco launches price cuts in Express convenience stores
File image of Tesco Express

Tesco launches price cuts in Express convenience stores

Tesco is slashing the price of more than 222 own-brand and branded products in its Express convenience stores.

Essentials including milk, bread, pasta and coffee are included in the lines which have been reduced in price by an average of more than 10 per cent at Tesco Express stores. The retail giant has made more than 2,800 price cuts across stores in recent months. With 2,048 of convenience stores at the end of the 2023-24 financial year, Tesco aims to benefit hundreds of thousands of customers from the cheaper deals.

Keep ReadingShow less
vape and cigarette
Photo: iStock

One in five ex-smokers in England now vape, study finds


Summary
1. One in five people who have successfully quit smoking in England currently vape, with an estimated 2.2 million individuals using e-cigarettes as a smoking cessation tool.
2. The increase in vaping among ex-smokers is largely driven by the use of e-cigarettes in quit attempts, with a rise in vaping uptake among people who had previously quit smoking for many years before taking up vaping.
3. While vaping may be a less harmful option compared to smoking, there are concerns about the potential long-term implications of vaping on relapse risk and nicotine addiction. Further research is needed to assess the impact of vaping on smoking cessation outcomes.


Keep ReadingShow less
Bira engages with Treasury on Budget fallout, business rate reform
(Photo by Christopher Furlong/Getty Images)
Getty Images

Bira engages with Treasury on Budget fallout, business rate reform

Independent retailers association Bira has held a meeting with members of the Treasury team to discuss concerns following its robust response to the Government’s recent Budget announcement.

The Budget, labelled by Bira as "devastating" for independent retailers, was met with widespread indignation from Bira members.

Keep ReadingShow less