A tripling of the gas price is “within the realm of possibility”, says the expert
Store price index, monthly inflation The measure, based on 500 common street commodities, rose 4.4 percent in July, the highest level on record. The price of food price increases were the driving force, none more so than dairy. Though living expenses With prices rising across the board as a result of the crisis, Lurpak brand butter seems to have been hit harder than most, much to the public’s dismay.
One kilogram (2.2lb) tubs of Lurpak now regularly fetch over £9 on supermarket shelves.
Perhaps no other product has come to epitomize the cost-of-living crisis so well in the minds of British consumers. as images Danish spread butter, along with other dairy products affixed with safety labels, has become an online trend.
Lurpak leads the pack as butter prices hit new highs in July
The price of Lurpak has reached £9 per kilo
Arla Foods, the owner of Lurpak, said in a statement earlier this month: “We understand that the recent food price inflation is hitting many households really hard right now.
“Unfortunately, our farmers are facing a similar situation with the prices of feed, fertilizer and fuel needed for milk production, which have increased significantly in recent months.
“While we don’t set shelf prices, we work closely with retailers to ensure our farmers get a fair price for the milk they produce.”
It Store Price Index Report A commission from the British Retail Consortium (BRC) released today provides further insight into these pressures.
The cost of filling the average shopping trolley in the UK has risen
Annual store price inflation rose to 4.4 percent in July from 3.1 percent in June, its twelfth consecutive monthly increase, reaching its highest level since the index began in 2005.
Its main driver was food inflation, which rose to seven percent in July from 5.6 percent in June, the highest since May 2009.
The wholesale prices of dairy products recorded the most significant price increase compared to the previous year. heavy cream rose 89 percent, butter 84 percent, mild cheddar 59 percent and skim milk powder 56 percent.
The data Office for National Statistics Reflecting these findings, the ONS published last week reported that food prices rose by 9.8 per cent in the year to June, with dairy and eggs particularly expensive.
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Distribution of the July purchase price index
500 g bath butter has an average price increased by 21 percent to £3.98 over the past year, according to the ONS.
However, other brands remain significantly cheaper than Lurpak, with rivals Bertoli and Country Life typically priced below £3.50 for a 500g pack.
Lurpak contains 28 percent canola oil, compared to Country Life’s 25 percent and Bertoli’s 21 percent.
Along with their stated commitment to providing fair compensation to the farmers who supply them, Lurpak’s relatively high oil content means it is more affected by high oil prices than its competitors.
Oil prices have a negative impact at every stage of the supply chain, increasing the energy bill for production as well as transportation costs.
Shipping costs are currently four times higher than before the pandemic, the BRC report said.
Restrictions on natural gas imports, a direct input to fertilizer production, have also increased agricultural costs.
Rising agricultural costs in Europe have contributed to rising food prices
According to the BRC report, fertilizer prices have almost quadrupled over the past year.
BRC Chief Executive Helen Dickinson OBE said: “As inflation reaches new highs, retailers are scrambling to absorb as much of these rising costs as possible and seek efficiencies in their business and supply chain.
“With households struggling with the cost of living, retailers are expanding their value propositions by offering the widest range of products to those most in need, offering discounts to vulnerable groups and increasing staff wages.
“Nevertheless, households and businesses should prepare for a difficult period as inflationary pressures hit home.”
New report sheds light on why Lurpak’s value keeps going up and up | Great Britain | news
Source New report sheds light on why Lurpak’s value keeps going up and up | Great Britain | news