Foods with the lowest price rise at the fastest rate

Retailers increase the price of their cheapest food objects as the cost of living crisis bites in Britain. Supermarkets increase the price of the value objects faster than more expensive objectsaccording to an analysis from the price intelligence company Skuuudle.

In the largest study of its kind, Skuuudle tracked the costs at nearly 19,000 objects in UK supermarkets on a daily basis from July to December and found that objects originally under 75p accelerated at fastest consider.

These objects includes many supermarket products including biscuits, chocolates, snacks, oils, rice, pasta, tins and packets of food.

Yet objects priced over £5 in July has actually fallen in price, possibly as a result of reduced demand for high costs objects.

Food staples selling for under 75p have risen by 16% while objects sales for over five pounds have fallen in price up to almost four per cent according to the data.

Experts from Skuuudle tracked the price of 18,790 supermarket food products from sauces to cereals.

The figures show a direct relationship between original cost and consider of increase with cheaper objects increases in price higher consider than more expensive alternatives.

Goods priced between 75p and £1.50 back in July rose eight per cent while objects priced from £1.50 to £5 went up by almost four per cent.

Skuuudle generates market-leading data analytics to help retailers understand the markets they operate in, to continue to offer optimal prices for consumers – in the face of rising inflation.

This allows retailers to compare like-for-like products and accurately track changes in the price of the same objects across different retailers.

This level of insight is critical when accurately tracking the price of a large number food products with many small variables that distinguish one product from another.

A Skuuudle spokesman said retailers have an unenviable “balancing act” to perform when it comes to pricing, and must consider the needs of the customer, their suppliers and the supply chain.

He said: “The changes make it difficult to read for those on low incomes who see the cost of a lot of value objects increase, but who may not be able to benefit from the reduction in the price of more expensive ones objects.

“This change may well be driven by reduced demand for more expensive ones objects as more people turn to value products during the cost of living crisis.

“Supermarkets have to struggle with rising costs linked to production and shipping, while supply issues increase costs further.

“What is interesting is how supermarkets choose to pass on increased costs to consumers.

“Our data shows that the prices are the cheapest food objects which is rising at the highest consider while many are expensive objects has actually become cheaper.

– It is often the cheapest objects in our baskets that we place the least emphasis on, so understand that some of these staples may increase faster consider will help the most value-conscious customers keep control of weekly food shop bills.”