LONDON (BLOOMBERG) – Preparing English breakfasts is around 18 per cent more expensive than a year ago, in yet another indicator of how the cost-of-living crisis is squeezing British household budgets.
Buying fry-up supplies – toast, butter, eggs, sausages and bacon, together with coffee and tea – will set consumers back by an average of ?19.1 (S$32.10), almost ?3 more than the same period last year.
That’s according to retail research firm Assosia, which crunched price data across grocers Tesco, J Sainsbury, Asda and Wm Morrison Supermarkets in July.
Increases in the cost of breakfast supplies are outpacing the overall British 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 Mr Richard Lim, chief executive 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 Mr James Walton, chief economist at the Institute of Grocery Distribution. “That is a clear sign of food stress.”