Latest news with #HarvirDhillon
Scottish Sun
5 days ago
- Business
- Scottish Sun
Customer fury as UK's favourite chocolate's £1.40 multipack shrinks meaning it's cheaper to buy a single 30p bar
Customers on the Tesco website said it was just another example of shrinkflation 'MAKE IT MAKE SENSE' Customer fury as UK's favourite chocolate's £1.40 multipack shrinks meaning it's cheaper to buy a single 30p bar PACKS of Freddos have shrunk from five to four — making the family favourites cheaper to buy individually. The new smaller multipacks still cost £1.40 at Tesco, meaning the price of each chocolate bar has gone from 28p to 35p. Meanwhile, single ones cost about 30p. 2 Packs of family favourite Freddos have shrunk from five to four 2 Freddos are now cheaper to buy individually Experts have blamed the move — equivalent to a 25 per cent price increase — on the soaring cost of cocoa. But customers on the Tesco website said it was just another example of shrinkflation. One wrote: 'A single Freddo is 30p and pack of Freddos used to be a 5 pack but now a 4 pack is £1.40. "Make it make sense.' Another said: 'Cheaper to buy 4 bars separately, used to get 5 bars at this price.' Tesco and Waitrose are the first to stock the new packs, with Waitrose offering them for a promotional price of £1, down from £1.80. Other supermarkets still have the five-packs in stock. Cadbury's owner Mondelez International said it had to pass on higher costs for ingredients, energy and transport. Susannah Streeter, of investment company Hargreaves Lansdown, said: 'The sharp rise in the cost of cocoa, which is such a crucial ingredient, has caused a big headache for chocolate manufacturers. 'They have also had to absorb higher energy costs and wage growth. People are only just realising why Dairy Milk chocolate and Freddos taste different - and they're saying one is MUCH tastier 'But producers know consumers will not swallow much bigger increases. "Though wholesale prices have come down slightly, they remain triple the price compared to two years ago. 'So, reducing the numbers of bars in packs or the weight of individual products is the strategy they are deploying.' Harvir Dhillon, economist at the British Retail Consortium, said: 'Chocolate prices, which are largely decided by large manufacturers, have been hit hard by global cocoa prices. 'The cost of cocoa has been badly affected by poor harvests in parts of Africa.'
Sky News
27-03-2025
- Business
- Sky News
Easter eggs up to 56% more expensive than last year and have shrunk in size, according to Which?
Easter egg hunts could become slightly more difficult and expensive this year - with the chocolate treats rising in price by as much as 56% while shrinking in size, a consumer group has found. The price of chocolate in the UK has risen by 16.5% in a year, compared to a 4.4% increase for supermarket food and drink overall, according to inflation tracking by Which?. It comes after a steep fall in global cocoa production, driven by higher temperatures hindering the quality and quantity of beans, started driving wholesale costs to record highs. An 80g pouch of Terry's chocolate orange mini eggs at Lidl cost 99p in the run up to Easter in 2024 but has gone up to £1.35 while shrinking to 70g - meaning a price rise of 56% per 100g, the Which? research found. The same product, which originally cost more at other supermarkets, has gone up by 51% at Asda, 37% at Sainsbury's and 14% at Tesco. At Morrisons, Which? found a 200g Cadbury Creme Egg 5 Pack Mixed Chocolate Box had increased in price from £2.62 last year to £4 this year. A Nestle Kit Kat Chunky milk chocolate Easter egg stayed at the same price at the supermarket but has reduced in size from 129g to 110g - making it 17% more expensive per 100g. At Tesco, Which? found a Twix white chocolate Easter egg had increased from £5 to £6 on last year and had also shrunk from 316g to 258g, meaning the unit price per 100g had gone up by 47%. Meanwhile, Asda Fruit & Nut Milk Chocolate 200g is 73% more expensive, rising from £1.33 to £2.30. At Ocado, a 110g NOMO Creamy Choc Buttons share bag 110g has gone up from £2.43 to £3.97, a 63% increase. Which? money and retail editor Reena Sewraz said: "You can still get a good deal on your Easter chocolate by looking for special offers, comparing the price per gram or if you can, hold out until Easter Sunday when many of the eggs are likely to be reduced." Sky News has contacted Terry's, Lidl, Tesco, Asda, Sainsbury's, Morrisons and Cadbury for comment. Harvir Dhillon, economist at the British Retail Consortium trade association which represents supermarkets, said: "Chocolate prices are largely determined by manufacturers, and have been hard hit by global cocoa prices, which are around four times higher than in 2023. "The cost of cocoa has been badly affected by poor harvests in parts of Africa." A spokeswoman from Mars Wrigley, which makes Twix, said: "We will always absorb pricing pressures where we can, but rising manufacturing costs - driven in part by well-documented increases in the cost of cocoa - have meant that we've had to adjust some of our product sizes to minimise changes to list price, ensuring our snacks continue to deliver great quality and affordable value for families this Easter." A Nestle spokeswoman said: "Like every manufacturer, we have seen significant increases in the cost of cocoa, making it much more expensive to manufacture our products. "As always, we continue to be more efficient and absorb increasing costs where possible."
