Chocolate lovers in Wales are being warned of significant price hikes, with cocoa prices increasing by 11% in the year up to August. The rise in chocolate prices is much steeper compared to the overall supermarket food and drink prices, which only saw a 2.7% increase during the same period, according to the latest Which? inflation tracker.
The surge in cocoa prices has been attributed to poor harvests caused by unusual weather conditions in West Africa. Leading brands have seen substantial price hikes, with products like Sainsbury’s No Added Sugar Milk Chocolate and Prestat Chocolates & Truffles Assortment experiencing nearly doubled prices. Additionally, popular items like Cadbury Family Treatsize Multipack, Cadbury Milk Tray Chocolate Box, and Twix Caramel & White Chocolate Fingers Biscuit Snack Bars Multipack have all seen price increases of over 40% in just a year.
Aside from chocolates, other food items have also witnessed notable price surges. For instance, Sainsbury’s Fat Free Natural Yoghurt doubled in price, and Aldi’s Acti Leaf Unsweetened UHT Soya Drink saw a 70% price increase.
Overall, food and drink prices have risen by 16.6% in the three months up to August 2024 compared to the same period two years earlier, highlighting the ongoing challenge for many shoppers to afford basic necessities.
Which? Retail editor Ele Clark advised consumers to compare prices per gram across different retailers and brands to ensure they get the best value for their money, especially with Halloween approaching. Supermarkets like Asda, Morrisons, and Sainsbury’s reassured customers of their commitment to offering competitive prices and value, despite the market trends.
The warning about the eyewatering price increases in the chocolate industry comes as a heads-up for consumers, urging them to be mindful of their spending when indulging in sweet treats.