Which?’s latest food and drink inflation tracker has found that chocolate prices soared by 11 per cent in the year to August 2024, meaning shoppers could pay over the odds for Halloween treats this year.
Chocolate prices have risen far more than overall supermarket food and drink prices, which were up 2.7 per cent in the same period. A significant rise in global cocoa prices has been attributed to poor harvests because of weather conditions in West Africa.
The consumer champion found that, in some of the worst examples of chocolate inflation, the cost of Sainsbury’s No Added Sugar Milk Chocolate (100g) almost doubled – rising from an average of 95p in the three months to the end of August 2023 to £1.84 in the same period in 2024.
For branded chocolates, Ocado’s Prestat Chocolates & Truffles Assortment (210g) increased by 88 per cent from £17 in the three months to the end of August 2023 to a whopping £32 a year later. Asda’s Moo Free Dairy Free & Vegan Original Chocolate Bar (80g) skyrocketed from £1.50 to £2.40 – an increase of 60 per cent.
At Sainsbury’s, Cadbury Family Treatsize Multipack (216g) increased from £2.50 to £3.72; at Morrison’s, Cadbury Milk Tray Chocolate Box (360g) rose from £4.01 to £5.74 and at Asda, Twix Caramel & White Chocolate Fingers Biscuit Snack Bars Multipack (9 x 20g) increased from £1.65 to £2.35 – all price rises of more than 40 per cent in just a year.
Despite overall supermarket food and drink inflation dropping to 2.7 per cent in August 2024, some other items in Which?’s food and drink inflation tracker also still saw significant price rises.
For example, Sainsbury’s Fat Free Natural Yoghurt (500g) doubled in price from an average 45p in the three months to the end of August 2023 to 90p a year later and Aldi’s Acti Leaf Unsweetened UHT Soya Drink (1L) increased by 70 per cent from 50p in 2023 to 85p in 2024.
And while overall food and drink prices have not risen hugely in the past year, looking at a two-year period shows that consumers are paying a lot more than they were in 2022 – when inflation had already taken hold. Which? research found food and drink prices were 16.6 per cent higher in the three months to the end of August 2024 compared with the same period two years earlier.
This means prices are still significantly higher compared to what shoppers were paying before the cost of living crisis, showing the challenge many shoppers are still facing to afford everyday essentials.
When shopping for Halloween chocolates, consumers should shop around and compare the price per gram across different pack sizes, retailers and brands to ensure they get the best value for money.
More broadly, supermarkets continue to have an important role to play in supporting consumers to make affordable choices – including in areas which only have pricier convenience stores.
Ele Clark, Which? Retail Editor, said:
“Our research shows that despite overall food and drink inflation continuing to fall, chocolate prices have risen dramatically in the last year.
“To ensure you get the best value for money on your Halloween chocolate, shop around and compare the price per gram across different pack sizes, retailers and brands.”
