The likes of Sharwood’s, Loyd Grossman and Mr Kipling have seen increases across at least 200 lines in the two weeks to 14 February 2023, according to Assosia data
Hundreds of Premier Foods products have leapt in price by as much as 59% across a wealth of well-known brands.
The likes of Sharwood’s, Loyd Grossman and Mr Kipling have seen increases across at least 200 lines in the two weeks to 14 February 2023, according to Assosia data.
Sharwood’s has experienced the most hikes at 57. As a result, 30% of its cooking sauce portfolio is pricier than last month. In Morrisons, shelf prices have risen as much as 59.4% for its Raita Sauce 190g line.
Loyd Grossman has seen increases on a par with Sharwood’s in Morrisons. Its Pizza Sauce 350g is also up 59.4% – from £2.19 to £3.49. Across 20 different products, Loyd Grossman has experienced an average rise of 50% across the mults and discounters.
Other Premier Foods brands to have risen in price include Cadbury cakes, Mr Kipling and Batchelors – by as much as 37.6% in Tesco and 33.3% in Sainsbury’s.
“We’ve seen significant increases in the cost of raw materials, energy, packaging and labour,” a Premier spokeswoman said. “We always look at ways to offset as much cost pressure as we can.
“The retail price of our products is at the discretion of retailers and can vary between stores.”
Premier has appeared successful in passing on higher input costs over the past 12 months. Ambrosia rice pudding, for instance, is now over 75% more expensive on average year on year, following the latest 8% rise since 31 January.
Last month, The Grocer reported prices of Bisto instant gravy had soared as much as 51% across grocery retailers since the start of 2023. Rises have continued to filter through in February, by an average of 37% across 23 SKUs.
It comes after the supplier last month posted double-digit revenue growth for its third quarter – up 12% in the 13 weeks to 31 December – citing pricing as a key contributing factor.
A spokeswoman for Sainsbury’s said it was “committed to offering our customers great choice and value when they shop with us.”
Tesco pointed to its own label sauces as a value option.
The Grocer has contacted the rest of the ‘big four’ for comment.
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