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Thursday, July 18, 2024

New data shows what ‘big shop’ favourites could cost in 2038

New research from Moneyboat has predicted how much certain food items could cost by 2038 if they continue to rise in the same way they have in the last 15 years.

The cost-of-living crisis has played a big part in the cost of food in the UK rising quickly, but the cost of food has been rising steadily over the years anyway.

Using government ONS figures from the RPI: Ave Price index, the study looked at how much certain foods had cost in 2008 and how much they cost now in 2023 to reveal the amount they’ve increased in price.

The top 10 items that have increased the most and how much they would cost by 2038:

1. Salmon – 98.64% increase

Salmon is one of the most popular fish in the world, and its high demand, overfishing, pollution, and climate change, have massively impacted the increase in prices. In the last 15 years, salmon has seen a whopping increase of 98.64% in its average price across supermarkets – if it carried on increasing like this, by 2038, it would cost £37.68 per kg, or £9.79 for the average packet size of two fillets (weighing roughly 260g).

2. White fish – 93.46% increase

Not far behind salmon, white fish has also seen a whopping increase in the last 15 years, with prices seeing a 93.46% hike, meaning white fish (such as cod, haddock, and plaice) could cost £37.76 per kg, or, for a standard 260g pack containing two fillets, £9.82.

3. Sausages – 90.49% increase

Over the last 15 years, the price of sausages has increased by 90.49%. For a kg, they currently cost an average of £6.61, but if inflation carried on in the same trend, they could cost £12.59, or £5.04 for a pack of six (weighing 400g).

4. Butter – 85.83% increase

Butter has seen an 85.83% increase since 2008, with prices currently sitting at an average of £2.36 for 200g worth. This means that by 2038, a 200g tub of butter could be costing Brits £4.39.

5. Tomatoes – 85.29% increase

Tomatoes currently cost about £3.15 for every kg; however, this price has increased by 85.29% in the last 15 years. If prices carried on increasing at the same rate, a kg of tomatoes could cost £5.84.

6. Milk – 75% increase

A pint of milk has increased by 75% in price, currently costing an average of 70p. By 2038 this could be costing Brits £1.23 per pint, or £4.90 for a typical 4-pint carton.

7. Coffee – 70.1% increase

Currently costing Brits an average of £3.30 for a standard tub, coffee has seen an increase of 70.1% in the last 15 years, which means in the next 15 years, a tub of coffee could cost as much as £5.61.

8. Grapes – 59.18% increase

Grapes have increased in price by 59.18% since 2008, currently costing an average of £4.25 for every kg. In the next 15 years, this means a kg of grapes could cost £6.77, or £2.71 for a standard 400g punnet.

9. Mince – 57.83% increase

A kg of minced meat typically costs Brits £7.86, which is a 57.83% increase since 2008. If prices carried on rising this way, it could cost £12.41 for a kg, or £6.20 for a standard 500g packet.

10. Pears – 56.2% increase

Pears have also seen a large increase in their costs in the last 15 years. In the last 15 years, they’ve increased by 56.2%, meaning by 2038 a standard pack of pears could cost £3.34 (per kg).

Another food item that has seen prices skyrocket is cheese, which over the last 15 years has seen prices increase by 39.43%, meaning a standard block could cost £5.15 by 2038.

How to make food last longer to decrease your weekly food shop spending

1. Wrap hard cheese in parchment paper

Ditch the plastic packaging and wrap hard cheese in parchment or baking paper, which allows the cheese to breathe and keeps it from drying out. It can also prevent any extra moisture and mould from growing. Hard cheese can usually last up to four weeks when stored correctly in the fridge.

2. Vinegar-bathe your veggies

A great way to disinfect all your fruits and veggies is to give them a vinegar bath. The vinegar solution should have a 1:3 ratio of vinegar to water in a bowl or your clean sink. Empty your produce into the solution and let sit for 15 minutes. Once done, you can rinse and thoroughly dry your produce before moving them into their respective storage containers.

The vinegar solution disinfects, cleans, and removes any bacteria from the produce that might break down the food quicker. The solution won’t be strong enough that you can taste it on the product but it will allow your veggies to last for up to two weeks!

3. Ice your bread

If your bread has become stale, grab an ice cube, and run it over the loaf before popping it into the oven for 10 minutes. Alternatively, you can also douse the loaf in water. This adds moisture to the bread and makes it edible again. The bread should then be used within the day. A freshly made loaf of bread can last up to four days, whereas a store-bought loaf will last up to one week.

Daniel Saunders at Moneyboat said: “The cost of living is affecting us all in different ways right now, but one way we’re all feeling that penny-pinch is in the weekly shop with the cost of food rising so sharply in recent months.

“With this in mind, we were interested to see just what prices of food would look like if they continued to rise the way they have done over the last 15 years, showing that some of our favourite items could be rather costly!”

Further info from the study can be found here: https://www.moneyboat.co.uk/blog/the-cost-of-food-index/


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