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Cost of living crisis hits Christmas, groceries up 70%

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We could be forking out more to fill the Christmas table this year, after new research revealed food is costing 70% more than it did in 2022. 

As the cost-of-living-crisis continues to rage, Compare the Market found even the festive feast has not been spared from rising inflation. 

The price comparison group analysed the price of 16 favourite festive foods and found that in 69% of cases the cost had increased by at least 4%. 

In some cases, products have almost tripled in price in the past 12 months. 

Sadly, for Santa and his reindeer, carrots were one of the worst hit, with the Christmas snack doubling in price compared to 2022. 

And, as if 2023 couldn’t get worse, pavlovas have increased a whopping 70.37% compared to this time last year. 

Christmas

Some of the items most affected include smoked salmon up 25%, washed potatoes up 50%, hot chickens up 9.09%, dinner rolls up 26.09% and Tiger prawns up 10.34%. 

The three products that have decreased in price since 2022 are Grainwaves down 18.6%, Steggles frozen turkey down 14.47% and Mersey Valley cheddar cheese which has remained the same. 

Compare the Market’s Chris Ford said the price rises were due to “sticky” inflation.  

“It’s a tough time for many households right now, especially after 13 rate rises, increase in the cost of fuel, electricity and living – these soaring trolley totals is just the icing on the cake people didn’t need this Christmas,” he explained.  

“While some Christmas costs have increased by just a few dollars, when you have multiple mouths to feed, it really adds up.” 

The current cost of living crisis is set to hit the Christmas table this year

There are tricks to filling the trolley for less this Christmas, according to Mr Ford. 

“If you’re the one getting stuck with the Christmas cooking this year, don’t be alarmed. There are still ways you can save money,” he said.  

“The number one way to cut back costs is to shop around. We know different retailers can set varied prices for the exact same product, which is why you should check the stores’ catalogues beforehand.”  

Mr Ford urged shoppers to make a list and check it twice before shopping.  

“You could save significantly if you stick to the list you made. So, get in, get what you need and get out,” he added.  

“If you didn’t get a chance to check out the catalogue for discounts before setting off to the shop, look for the unit price to make sure you’re getting the most bang for your buck.  

“Remember, ‘eye-level isn’t buy-level’ – look on lower or higher shelves for the cheaper items. Don’t just buy what’s right in front of you. You may need to have a harder look to find the most cost-effective price.”  

Mr Ford said rewards programs can be great but warned shoppers should be on the hunt for the best prices regardless of which supermarket chain they go to.  

“Rewards programs with major supermarket chains are often linked to airlines, so shoppers can exchange their points for flights, hotels, and more. But if you’re spending more on items that are offered cheaper in other stores just for the points, you could really be setting yourself back,” he stated.  

“Always check any respective apps to maximise points or see how many points you have and potentially consider cashing in your points to avoid an expensive Christmas lunch.  

“A difference of a few dollars can really add up – especially if you’ve got a few children or extended family coming for Christmas. Which is why it’s so important to plan ahead, delegate who’s buying what, and browse for the best deals online so that you can relax on the special day.”  

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