After it was discovered that one supermarket behemoth was suddenly selling Lurpak for more than £7 a tub, shoppers intending to pick up their preferred brand of butter may be in for a shock.
Since its introduction in Denmark in 1901, the high-end butter brand has established itself as a standard in millions of homes all over the nation.
But the exorbitant expense of a pack of Lurpak may eventually turn families away.
Pictures posted online showed a 750g pack of its spreadable, lightly salted butter advertised at £7.20 this week in Sainsbury’s.
The announcement comes amid the biggest cost-of-living crisis since the 1970s, which is being fueled by rabid inflation.
Experts have warned that things could get worse before they get better.
Simon Roberts, the CEO of Sainsbury’s, issued a warning last month that the cost of living situation will worsen before it gets better.
Customers are facing the “toughest of times,” the chief executive said, adding that the impacts will linger longer than most people anticipated months ago.
“The cost of fuel, food, fertilizer, and labor have all increased.” We are experiencing significant cost consequences, and they won’t go away tomorrow.
“Households across the nation are dealing with significant difficulties.” Customers and households attempting to manage their budgets face difficulties.
It comes as the cost of groceries for a typical family of four might increase by as much as £40 per month, putting additional strain on household budgets as prices for staples like bread and dairy products are expected to climb.
And the price increases are not limited to dairy items.
Recent Retail Price Index data for food purchased by typical consumers revealed that the average cost of a roasting joint of beef had increased by 9.8% to £11.34 over the year to April while the cost of chicken had increased by 10.4% to £3 per kilo.
However, caterers are reporting even more drastic price increases for numerous products of between 20 and 30%, with changes frequently occurring every week.
According to Laca, the price of minced beef increased by 11% over the past several days, while one catering company reported a price increase of £10.46 to £15.50 for 10 kg of cooked potatoes.
Other Heinz staples had price increases of up to 55% in June, including baked beans, ketchup, salad cream, and soup.
Asda’s price of Heinz beans has increased by a third since June 17 from 90p to £1.20 a can, according to data from retail research experts Assosia, while Morrisons’ price of a standard bottle of Heinz squeezy ketchup has increased by 39% from £2 to £2.79.
The price of Heinz soup cans has also increased, especially the Cream of Tomato, a family favorite. Sainsbury’s has raised the cost of a 4x400g box by 40%, from £2.50 to £3.50. A single can now costs £1.40 at Asda instead of 90p.
This month, the price of a 4x200g bag of Snap Pots baked beans increased by 20% at Morrisons from £2.50 to £2.99.
A small 200g can of Heinz beans with sausages in Asda now costs £1.20, nearly doubling from its previous price of 65p.
Since the 1970s, the UK economy has experienced its “strongest era” of inflationary pressure.
The conflict in Ukraine has made this impact worse by limiting supply chains and driving up grain prices.
This has been made worse by the fact that both Ukraine and Russia are significant worldwide grain producers, producing over a third of the world’s wheat exports jointly.
According to the Institute of Grocery Distribution, as a result, items that require grain, like bread, and products containing meat from animals fed on grain, like chicken, would increase in price over the course of the summer and fall.