Sunak’s inflation arguments ‘aren’t the right ones’, says Clarke
Frying ingredients – including bread, butter, eggs, sausage, bacon, coffee and tea – together the buyers returning an average of £19.39 this month, according to retail research firm Assosia. He used the average prices of branded breakfast products across TescoSainsbury’s, Asda and Morrisons to hit the staggering figure, which was up more than £3 from the same period last year.
The average price of a basket of own brand breakfast ingredients is £11.70, up from £9.84 for 2021, according to Assosia’s calculations.
Retired security guard Eric Taylor, 62, said Express.co.uk the cost of staples in shops meant it was now cheaper to eat breakfast at his local restaurant, the Titanic Cafe in Ilford, east London.
Mr Taylor said: “I don’t buy cereal now. It’s gone up to £4 a pack. Butter has gone up. My favorites have gone up £1 or £2. Everything has gone up. A £28 bill a last week will be £35 to £36 this week.
“It’s cheaper to have full English in the cafe.”
An English breakfast is cheaper to buy in a cafe than to get the ingredients yourself
An employee of an Aldi supermarket restocks the shelves
A traditional English breakfast at Mr Taylor’s local cafe costs £5.95 for an egg, bacon, sausages, beans or tomatoes, two slices of toast and tea or coffee.
Titanic Cafe owner Eric Oran said Express.co.uk“Even if it’s quite difficult because of the rising prices, we try to keep [prices] at least.
“We get things in bulk so we get a better deal. When you get [our English breakfast] you pay for single items, rather than buying a bundle of products that may or may not be used. It’s more likely to be wasted, unless you’re a big family.”
However, he admitted that inflation had made it difficult to keep prices low.
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Bread shelves in an Icelandic supermarket in Christchurch
Packets of sausages on a supermarket shelf in Larne, Northern Ireland
Mr Oran said: “What makes us unique is that we are a community cafe [where] good food and service go hand in hand. We try to keep [prices] at least for our customers.”
Earlier this week, the Office for National Statistics (ONS) revealed the retail price index (RPI) jumped to 12.3% while the broader price index inflation figure index (CPI) hit a new 40-year high of 10.1%.
Soaring inflation saw interest payments on public debt jump by almost 40% last month, with borrowing in July hitting £4.9bn, official data showed.
Debt interest payments soared to £5.8bn in July from £3.5bn in the same month last year due to rising RPI inflation.
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Michal Stelmach, senior economist at KPMG UK, said: “The balance of risks to public finances has clearly tilted to the downside.
“The cost-of-living crisis will likely require additional support for households, while a slowing economy will put downward pressure on revenues, making fiscal targets increasingly unachievable.”
Mr Taylor, from Ilford, east London, said he was lucky to be financially well at the moment.
He added: “I’m not very rich. If this continues for a year, all my savings will dry up and that would worry me.”
A shopper in an Asda supermarket in London
Police officer Liz Wright, 49, from Dagenham, said she had switched from branded products to products from her supermarket in a bid to save money.
She said Express.co.uk“I used to buy from Tetley, but now I buy from Tesco. A Tesco shop that was £60 a week now costs £70-80.”
Mum Kathleen Wright, 76, of Collier Row, said she was now monitoring prices more closely in stores.
The retired newsagent said: “You are more aware now when shopping.
“My husband and I have savings but we don’t want to touch them. It could come to that. It’s a concern.”
Shoppers have seen their grocery bills rise at the fastest rate since 2008 after soaring prices for butter, milk and chicken, new data shows.
Research firm Kantar revealed that food price inflation jumped to 11.6% for the four weeks to August 7, from 9.9% the previous month.
He said this equates to an annual increase of £533 in the average UK household’s grocery bill.
As a result, he reported that sales of own-brand products rose by almost a fifth – 19.7% – as shoppers looked to save money.
Fraser McKevitt, head of retail and consumer insights at Kantar, said: “As expected, we have now reached a new peak in food price inflation, products like butter, milk and poultry in particular registering some of the biggest jumps.
“It’s no surprise that we’re seeing homebuyers alter their lifestyles to meet the additional demands placed on their household budgets.”