Shoppers across the UK are expressing frustration as the price of Bisto gravy granules continues to rise. Last month, shoppers reported seeing the largest tubs of Bisto on sale for £4.50, but now that price has increased by £1 to £5.50 in some shops, according to The Mirror. Customers have taken to social media to voice their concerns, with one describing the price increase as “disgusting” and another stating that “everything has just casually doubled in price.”
The largest size of Bisto available for shoppers is the 550g tub, which is being sold at Morrisons for £4.99 and at Tesco for £5.50. An investigation by Grocer Magazine found that nearly 50 Bisto instant gravies have increased in price by up to 50.9% since the beginning of 2023.
Premier Foods, which owns the brand, stated that they only increase their prices as a last resort and try to offset significant increases in the cost of raw materials, energy, packaging, and labour through internal cost-saving measures first. However, their most popular 190g Bisto gravy tub is still available for £2.
For those who prefer to buy off-brand, Co-op gravy granules offer 500g for £2.85, while Morisons saver granules cost 32p for 200g. A survey conducted by the Which? consumer insight tracker found that one in seven people have skipped meals due to the rising cost of living. Almost one in ten (9%) have prioritised meals for other family members above themselves, and 4% have used a food bank.
The survey also revealed that 72% of people have turned their heating on less due to rising prices, 39% are using less hot water, and 19% are having fewer cooked meals. Shop price inflation has reached a record high, with the British Retail Consortium (BRC)-NielsenIQ Shop Price Index reporting that shop prices are now 8.4% higher than they were a year ago.
Food inflation has accelerated to a record 14.5% in February, up from 13.8% in January, while fresh food prices are now a record 16.3% higher than a year ago, up from 15.7% in January.
BRC Chief Executive Helen Dickinson stated that retail prices across the board are continuing to react to the impact of soaring energy bills, higher running costs, and tougher trading conditions brought about by the war in Ukraine. While the annual inflation rate is expected to reduce in the second half of this year, retail prices are likely to remain high over the coming months.
Mike Watkins, Head of Retailer and Business Insight at NielsenIQ, added that with more than half of UK consumers feeling they are in a worse financial position compared to a year ago, many households are trimming back on non-essential spending. Some retailers are having to work harder to encourage customer spend, including additional price cuts or promotional activity, and this is likely to continue until consumer confidence starts to improve.
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