The price of chocolate has risen by 11% over the last year, far exceeding the increases in other food items across UK supermarkets. According to Which?, consumers who open their doors for trick-or treaters may decide to reduce spending on 31 October. The cost of chocolate has risen sharply over the past year, far above the 2.7% inflation rate of other grocery items.
After cocoa prices doubled in world markets due to tree diseases and bad weather, the price of cocoa has increased. A wetter than usual rainy season and other weather issues led to a cocoa scarcity in west Africa. This was especially true in Ghana and Ivory Coast where more that half of the cocoa beans in the world are grown.
The increased global demand for cacao is also contributing towards scarcity, and consequent price increases, along with the rising cost of fertilisers and illegal mining that degrades land. Sugar prices have also risen due to dry weather in Brazil, and delayed monsoon seasons in India.
Sainsbury’s 100g milk chocolate cost almost doubled in some of the worst cases of “chocflation”, as identified by Which? – from 95p on average in the three month period ending August 2023, to £1.84 during the same time in 2024.
Prestat’s 210g chocolate and truffle assortment on Ocado has increased by 88%. From £17 at the end of August, 2023 to £32 one year later. Asda’s 80g dairy-free bar of chocolate rose from £1.50 up to £2.40, a 60% increase.
Sainsbury’s increased the price of a Cadbury Multipack of Treat-Sized Chocolate Bars from £2.50 up to £3.72. Morrisons increased the price of a 360g Cadbury milk tray chocolate box from £4.01 up to £5.74. At Asda a multipack caramel and white twist fingers rose from £1.65 to£2.35 — all of these increases are more than 40%.
Ele Clark, Which? Retail editor Ele Clark said: To get the best price on Halloween chocolate, compare prices per gram between different brands, pack sizes and retailers.
As a spokesperson for Asda, he said: “Asda consistently ranks as the most affordable traditional supermarket when independent price comparison surveys are conducted. This includes the Grocer 33 Basket Comparison and the Which? Monthly big shop trolley comparison. These surveys include loyalty pricing despite the fact that they are now included in these surveys.”
Aldi Morrisons Ocado and Sainsbury’s refused to comment on Which?
Post Disclaimer
The following content has been published by Stockmark.IT. All information utilised in the creation of this communication has been gathered from publicly available sources that we consider reliable. Nevertheless, we cannot guarantee the accuracy or completeness of this communication.
This communication is intended solely for informational purposes and should not be construed as an offer, recommendation, solicitation, inducement, or invitation by or on behalf of the Company or any affiliates to engage in any investment activities. The opinions and views expressed by the authors are their own and do not necessarily reflect those of the Company, its affiliates, or any other third party.
The services and products mentioned in this communication may not be suitable for all recipients, by continuing to read this website and its content you agree to the terms of this disclaimer.