With inflation rising 69% since 2000, it’s surprising that many people don’t know how much inflation affects our daily purchases. New data from Raisin UK has given indicators on how much certain food items used to cost, and whether you’re getting more or less for your money now.
Inflation is a quantitative measurement of the rate at which the price of goods and services rises or the purchasing power of a currency falls. By definition, inflation is the increase in the cost of living due to increases in the prices of goods and services.
The inflation rate is a percentage used to determine the increase or decrease of prices during a specified period, typically up to a year. The inflation rate helps you decipher how quickly prices rose during a specific period.
A loaf of bread has doubled since 2000
A loaf of white, sliced bread would only cost you 52p twenty years ago. The price has increased to £1.03 – 98% extra, and you’re not getting anymore bang for your buck. With the average cost of living rising by 69.43%, you’re getting less dough for your money now.
The Freddo, of course, has had a 70% increase in inflation
It is true that the Freddo is our nation’s economic indicator, and it’s rather terrifying how this piece of chocolate has had a 70% inflation rate over the years. From its fair 10p price tag, price rises of the Freddo have caused outrage amongst Brits. Prices have been seen to be as high as 99p!
Collating average prices however, the Freddo is roughly 17-20p per bar now, does this mean by 2030 we will be paying £1 in exchange for this famous amphibian?
A 99 ice cream doesn’t – as the name suggests – only cost 99p anymore. The 2020 price is now a whole £1.50, but with an increase of 66%, it’s actually beaten the rise in inflation – just.
To see what other products we’re getting less of for our money, you can view the full study here.
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Editor, International Confectionery
Tel: +44 (0) 1622 823 922