Struggling families will add greedy food companies to their list of culprits this year, citing price hikes that far outpace inflation.
Grab costs rose to the highest level in more than 45 years, reaching 19.2% in March, as farmers, manufacturers and retailers passed on additional costs to shoppers.
This means that for many consumers it has become difficult to buy even the basics.
Food inflation has returned to 9.2%, but manufacturers are still raising prices.
And big food companies were recently accused by a toothless competition watchdog of defrauding shoppers to increase their own profits.
The Sun’s exclusive analysis by Consumer Advocate Which one? The worst offender was Premier Foods, which saw its profits jump by a fifth.
The company makes Mr Kipling cake, ambrosia custard and bisto gravy, which have seen significant price increases.
Mr Kipling’s pack of six chocolate slices is up 129% from £1.16 to £2.66, while Bakewell slices are up 98% from £1.38 to £2.75.
Bisto granules were £2.65 for 454g, now £4, a 51% increase.
A tin of Ambrosia custard rose 40% to £1.90.
Juice giant Tropicana also raised the price of its juices by 65%.
And Yeo Valley Yoghurt rose 70 per cent.
stock cheers
London’s blue-chip index ended 2022 up 1%.
The best performer in 2023 was Tufan Erginbilgić’s Rolls-Royce, with an increase of 223%.
And Marks & Spencer closed at 114 per cent.
Insurer Prudential fell 41% and Cab Payments fell 75%.
employment is dire
Car dealer Lookers dressed up as the Grinch yesterday as it announced it could create 945 jobs in the new year.
The company plans to cut 14.5% of its workforce following its £504m acquisition by Canada’s Alpha Auto Group.
The company is planning a “restructuring that will require a workforce reduction program.”