This week’s study by The Grocer reveals that the cost of a Christmas food and drink shop has risen by more than twice the rate of pay in the UK in the past five years.
Our findings echo revelations by the Office of National Statistics that the spending power of an average family has plunged to an all-time low since the recession began.
“Key components of a Christmas dinner have defied inflation to stay steady since 2008”
Elinor Zuke, senior reporter
Yet thanks to ferocious competition between the multiples, key components of a Christmas dinner have defied inflation to stay steady since 2008. A fresh turkey costs cost pennies more than it did back then, while stuffing and parsnips are even cheaper. A bottle of bubbly costs 10% less.
Other items have increased, however. Sprouts and potato prices have risen after disastrous harvests and there’s not much the mults can do to lower prices when supply has been so badly affected (in the case of potatoes, by 25%).
Overall our basket costs 14.3% more than it did in 2008 - a lower increase than RPI, at 15.4% The grocery supply chain can be proud of that. But it won’t mean much to consumers whose salaries have only risen by 6.7% at the same time.