The recent rise in the price of Lurpak to £5 was spotted in Iceland, despite the store saying just recently that a pack was for sale for £3.65. The latest rise comes as it has been estimated that annual grocery bills are going to jump by £380 this year as food price inflation hits a fresh 13-year high.
According to Bristol Live, data from Kantar shows that the rate of grocery price inflation jumped to 8.3% over the four weeks to June 12 – up from 7% in May.
Shopper Emina Ibrahim took to Twitter after spotting the steep rise in the cost of Lurpak saying: “£5 for a tub of Lurpak butter in Iceland and it’s the same everywhere. It was £3.65 a few months ago. I had already bought a supermarket own brand last week but this caught my eye today. FIVE POUNDS FOR BUTTER! #CostOfLiving”
Labour Matters replied: “500g of butter is €3.20 in Portugal. (About £2.75)” Endsars said: “This is insane”
Nubia added: “Part of me feels like they’re taking the absolute **** though because they can.” Amatey Doku said: “we’re in big trouble.”
The same butter costs £3.75 in Waitrose, but is also £5 in Ocado (with the 1kg pack costing £9).
Fraser McKevitt, head of retail and consumer insight at Kantar, said sales of own-label lines have been “boosted by Aldi and Lidl’s strong performances, both of whom have extensive own-label repertoires”.
“We can also see consumers turning to value ranges, such as Asda Smart Price, Co-op Honest Value and Sainsbury’s Imperfectly Tasty, to save money,” he added.
Asda’s chairman has said that some customers are setting £30 limits as they cut back on spending amid the cost of living crisis.
Lord Stuart Rose also said customers are putting fewer items in their baskets and choosing from budget ranges more often as they try to mitigate price increases.