Consumers brace for a significant rise in Halloween chocolate prices, surpassing general grocery inflation rates.
- UK chocolate prices have surged by 11% over the past year, far outpacing the 2.7% increase in overall grocery prices.
- Unfavourable weather conditions and heightened global demand for cocoa are key factors driving chocolate inflation.
- Sainsbury’s and Morrisons exhibit the most pronounced price hikes in their chocolate offerings.
- Consumers are advised to compare prices across retailers to secure the best value on Halloween treats.
In recent months, shoppers in the United Kingdom have witnessed an alarming increase in chocolate prices as Halloween approaches. The consumer group Which? alerts that chocolate price hikes this year may significantly outstrip general grocery inflation.
Throughout the past year, UK chocolate prices have risen by 11%, whereas the average grocery inflation is only 2.7%. This disparity highlights a pronounced trend of ‘chocflation’ affecting the market, leading to increased financial strain on consumers.
The surge in chocolate prices is attributed primarily to adverse weather conditions, including an unusually wet rainy season, and a rise in global demand for cocoa. These factors have exerted pressure on supply chains, thus inflating costs.
Some of the most notable examples of these price increases can be observed in major retailers. Sainsbury’s has seen its 100g milk chocolate bar price nearly double from 95p in August 2023 to £1.84 a year later. Similarly, a Cadbury multipack of treat-sized bars at Sainsbury’s has gone from £2.50 to £3.72, while at Morrisons, the Cadbury Milk Tray box increased from £4.01 to £5.74.
Which? retail editor Ele Clark advises consumers to be discerning shoppers this Halloween. “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,” she suggests.
With strategic shopping and price comparisons, consumers can mitigate the impact of ‘chocflation’ on their Halloween festivities.
