Inflation is Making the English Breakfast Even More Indulgent

Preparing English breakfasts is around 18% more expensive than a year ago, in yet another indicator of how the cost-of-living crisis is squeezing UK household budgets. Author of the article: Bloomberg News Irina Anghel and Katie Linsell ihcmfmd]xb4]ly2[4os)5w5n_media_dl_1.png Bloomberg RSS (Bloomberg) — Preparing English breakfasts is around 18% more expensive than a year ago, in…
Inflation is Making the English Breakfast Even More Indulgent

Preparing English breakfasts is around 18% more expensive than a year ago, in yet another indicator of how the cost-of-living crisis is squeezing UK household budgets.

Author of the article:

Bloomberg News

Irina Anghel and Katie Linsell

ihcmfmd]xb4]ly2[4os)5w5n_media_dl_1.png Bloomberg RSS

(Bloomberg) — Preparing English breakfasts is around 18% more expensive than a year ago, in yet another indicator of how the cost-of-living crisis is squeezing UK household budgets.

Buying fry-up supplies — toast, butter, eggs, sausages and bacon, together with coffee and tea — will set back consumers by an average of £19.1 ($22.96), almost £3 more than in the comparable period last year. That’s according to retail research firm Assosia, which crunched price data across grocers Tesco Plc, J Sainsbury Plc, Asda and Wm Morrison Supermarkets Plc in July. 

Increases in the cost of breakfast supplies are outpacing the overall UK inflation rate, which has hit a four-decade high as households struggle with spiking energy and fuel bills. 

The big four British supermarkets have all lost some market share this year as shoppers turn to cheaper rivals such as German discounters Aldi and Lidl.

“This brings into focus something everyone can relate to,” said Richard Lim, chief executive officer of Retail Economics. “Prices are rising across the board and the reality is that there is more inflation in the pipeline for sure.”

Although inflation is widespread, Britons have been hit especially hard. In France, prices of coffee, croissants and other breakfast supplies are mostly rising at single-digit percentages, according to Eurostat data.

Buying grocers’ own-brand products rather than well-known labels can help cut the English breakfast grocery bill by about £7.64, according to Assosia. Still, prices for the cheaper product ranges soared at a similar pace as branded ones.

Beyond trading down to private labels, the choices get tougher. 

“An increasing number of people say they’re skipping meals,” said James Walton, chief economist at the Institute of Grocery Distribution. “That is a clear sign of food stress.”

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Canada Goose shares fall after parka-maker cuts outlook over Omicron disruption
Read More

Canada Goose shares fall after parka-maker cuts outlook over Omicron disruption

Revenue lower than expected in Asia and Europe amid new COVID-19 outbreaks Canada Goose Holdings Inc. reported third-quarter earnings Thursday. Photo by REUTERS/Andrew Kelly Canada Goose Holdings Inc. on Thursday cut its full-year guidance following lower-than-expected retail growth in Asia and Europe after being hit by the unanticipated severity of the Omicron wave. The luxury…
BOJ to Review Outlook on Price Increases as Costs Rise: Yomiuri
Read More

BOJ to Review Outlook on Price Increases as Costs Rise: Yomiuri

Author of the article: Bloomberg News Takashi Mochizuki (Bloomberg) — The Bank of Japan may increase its forecast for inflation to reflect higher material costs when the board meets later this month, the Yomiuri newspaper reported, without saying where it got the information. The central bank’s outlook for price trends for the fiscal 2022, currently…
Omicron variant found in almost one-third of U.S. states
Read More

Omicron variant found in almost one-third of U.S. states

Author of the article: Reuters Matt Spetalnick and Susan Heavey WASHINGTON — The Omicron variant of the coronavirus has spread to about one-third of U.S. states, but the Delta version remains the majority of COVID-19 cases nationwide, U.S. health officials said on Sunday. Though the emergence of the new variant has caused alarm worldwide, Dr.…