How inflation & shrinkflation impact UK shoppers
A trip to the supermarket these days might leave you feeling a little lighter than it would have a decade ago – both in terms of your wallet and the weight of your groceries. New research by the credit card team at Compare the Market reveals that the average unit price of groceries has increased by a staggering 42% over the past 10 years. That means you're paying more for the same amount of food – or, in some cases, even less food.
To find out which items have been hit the hardest by both inflation and shrinkflation over the last decade, we recorded the prices of a variety of common grocery items from a well-known supermarket chain in the UK, then compared this to their price in 2014. We also did the same with popular barbecue essentials, just in time for summer.
Grocery shop inflation over the last decade
Rank | Grocery Item | Item price in 2024 | Unit price in 2024 | Item price in 2014 | Unit price in 2014 | Price increase per item (%) | Price increase per item (£) | Price increase per unit (%) | Item size difference (%) |
|---|---|---|---|---|---|---|---|---|---|
1 | Digestive Biscuits | £1.80 | £0.50 per 100g | £1.09 | £0.22 per 100g | 65% | £0.71 | 129% | -28% |
2 | Baked Beans (can) | £1.40 | £0.34 per 100g | £0.68 | £0.16 per 100g | 106% | £0.72 | 106% | 0% |
3 | Olive Oil (litre) | £7.80 | £0.78 per 100ml | £3.80 | £0.38 per 100ml | 105% | £4.00 | 105% | 0% |
4 | Ketchup | £3.00 | £0.65 per 100g | £1.75 | £0.38 per 100g | 71% | £1.25 | 71% | 0% |
5 | Mayonnaise | £3.75 | £0.63 per 100g | £2.29 | £0.38 per 100g | 64% | £1.46 | 64% | 0% |
6 | Choco Pops | £3.30 | £0.79 per 100g | £2.69 | £0.49 per 100g | 23% | £0.61 | 61% | -24% |
7 | Lamb Leg | £28.00 | £1.40 per 100g | £17.59 | £0.88 per 100g | 59% | £10.41 | 59% | 0% |
8 | Butter (block) | £2.15 | £1.08 per 100g | £1.70 | £0.68 per 100g | 26% | £0.45 | 58% | -20% |
9 | Broccoli | £0.82 | £0.22 per 100g | £0.53 | £0.14 per 100g | 55% | £0.29 | 55% | 0% |
10 | Bacon | £2.25 | £0.75 per 100g | £1.50 | £0.50 per 100g | 50% | £0.75 | 50% | 0% |
11 | Milk (pint) | £1.45 | £0.64 per litre | £1.00 | £0.44 per litre | 45% | £0.45 | 45% | 0% |
12 | Crisps (6pk) | £2.25 | £1.50 per 100g | £1.88 | £1.04 per 100g | 20% | £0.37 | 44% | -17% |
13 | Rice | £1.85 | £0.19 per 100g | £1.29 | £0.13 per 100g | 43% | £0.56 | 43% | 0% |
14 | Eggs (6) | £1.85 | £0.31 per egg | £1.30 | £0.22 per egg | 42% | £0.55 | 42% | 0% |
15 | Cheddar Cheese | £3.50 | £1.00 per 100g | £2.50 | £0.71 per 100g | 40% | £1.00 | 40% | 0% |
16 | Bread (loaf) | £1.39 | £0.17 per 100g | £1.00 | £0.13 per 100g | 39% | £0.39 | 39% | 0% |
17 | Apples (6) | £0.42 | £0.26 per 100g | £0.31 | £0.19 per 100g | 35% | £0.11 | 35% | 0% |
18 | Corn Flakes | £2.19 | £0.49 per 100g | £1.80 | £0.36 per 100g | 22% | £0.39 | 35% | -10% |
19 | Tea (80 bags) | £3.30 | £1.32 per 100g | £2.49 | £1.00 per 100g | 33% | £0.81 | 33% | 0% |
20 | Orange Juice | £3.00 | £0.33 per 100ml | £2.29 | £0.25 per 100ml | 31% | £0.71 | 31% | 0% |
21 | Carrots | £0.10 | £0.06 per 100g | £0.08 | £0.05 per 100g | 25% | £0.02 | 25% | 0% |
22 | Beef (mince) | £2.49 | £0.50 per 100g | £2.00 | £0.40 per 100g | 25% | £0.49 | 25% | 0% |
23 | Chocolate Bar | £2.00 | £1.11 per 100g | £2.00 | £1.00 per 100g | 0% | £0.00 | 11% | -10% |
24 | Salmon (2) | £4.85 | £1.87 per 100g | £4.00 | £1.82 per 100g | 21% | £0.85 | 3% | 18% |
25 | Coffee (jar) | £7.20 | £2.40 per 100g | £7.49 | £2.50 per 100g | -4% | -£0.29 | -4% | 0% |
26 | Grapes | £1.80 | £0.36 per 100g | £2.00 | £0.40 per 100g | -10% | -£0.20 | -10% | 0% |
27 | Chicken Breast (2) | £2.65 | £0.88 per 100g | £3.00 | £1.00 per 100g | -12% | -£0.35 | -12% | 0% |
28 | Pasta | £0.75 | £0.15 per 100g | £0.95 | £0.19 per 100g | -21% | -£0.20 | -21% | 0% |
Two quintessential British staples top the inflation list: digestive biscuits and baked beans.
The unit cost of digestive biscuits (i.e. the cost per 100g) has increased by 129% since 2014, marking the greatest increase of all items on the list. The actual price increase per item for digestive biscuits is 71p, however, they have also decreased in size by 28% over the last decade – meaning Brits are now paying 71p more, but getting 28% less for their money.
Shrinkflation usually involves companies maintaining the same price but reducing the quantity of product in a package. However, in the case of digestive biscuits, the price has actually increased alongside a decrease in quantity.
As for baked beans, the cost per item has risen by 72p, but the size of a can has remained the same. This translates to a 106% increase in both item and unit price.
Tea, another cornerstone of a British food cupboard, also makes the list in 19th place. The cost of tea has risen by 81p while the size remains unchanged, meaning an increase of 33%.
Kitchen staples most affected by inflation
Inflation has also hit some of our everyday kitchen staples hard over the past decade. Here's a breakdown of how these everyday essentials have seen significant price increases, based on unit cost:
Butter: The price of a block of butter has gone up by 45p, while the size of the block has also shrunk by 20%. This shrinkflation means you're actually paying 58% more per unit of butter.
Milk: A pint of milk now costs 45p more than it did 10 years ago, which translates to a 45% increase.
Eggs: Feeling like an omelette? A pack of six eggs has seen a price hike of 55p, which equals a 9p increase per egg. That's a 42% jump in the price of this breakfast staple.
Bread: Loaves of bread are now 39p (39%) more expensive compared to a decade ago.
These rising costs highlight the challenges of keeping your kitchen stocked in the face of inflation. With everyday ingredients like bread and eggs becoming more expensive, it's increasingly important to be a savvy shopper and explore cost-saving strategies.
Items that have decreased in size the most
Digestive biscuits have been hit the hardest by shrinkflation, with a 28% decrease in size since 2014. Next up are Choco Pops, which have shrunk by 24% (leading to a unit cost jump of 61%), followed by butter (20% size decrease) and crisps (17% decrease).
Rank | Item | Item size difference (%) |
|---|---|---|
1 | Digestive Biscuits | -28% |
2 | Choco Pops | -24% |
3 | Butter | -20% |
4 | Crisps | -17% |
5 | Corn Flakes | -10% |
6 | Chocolate Bar | -10% |
Items that have decreased in price since 2014
Interestingly, not all items we investigated have increased in price – some have actually become cheaper instead.
Pasta has seen the biggest price drop of all, costing 20p less now than in 2014. This is a decrease of 21%.
Chicken breasts come next, with the cost for two dropping by 35p (-12%). That’s followed by grapes, which now cost 20p less (-10%), and coffee, which costs 29p less per jar (-4%).
Rank | Item | Price decrease per item (£) | Price decrease per unit (%) |
|---|---|---|---|
1 | Pasta | -£0.20 | -21% |
2 | Chicken Breast (2) | -£0.35 | -12% |
3 | Grapes | -£0.20 | -10% |
4 | Coffee | -£0.29 | -4% |
The cost of a barbecue in 2024 vs 2014
As the weather finally heats up and Brits dust off their barbecues for summer, many of us will be looking forward to sizzling sausages and burgers in the sunshine. But along with the weather, there's another factor to consider when firing up the barbecue this year: inflation.
Just like other common grocery items, the cost of a barbecue has also been increasing over the past decade. In 2014, the average big barbecue haul would have cost around £65, whereas in 2024 it averages £79.
To reveal which barbecue favourites have been hit the hardest, we ranked popular items based on the biggest unit cost increases.
Rank | Grocery Item | Item price in 2024 | Unit price in 2024 | Item price in 2014 | Unit price in 2014 | Price increase per item (%) | Price increase per item (£) | Price increase per unit (%) | Item size difference (%) |
|---|---|---|---|---|---|---|---|---|---|
1 | Burger Buns (4,6) | £0.90 | £0.23 per bun | £0.65 | £0.11 per bun | 38% | £0.25 | 108% | -33% |
2 | Charcoal | £8.00 | £2.00 per kg | £5.00 | £1.25 per kg | 60% | £3.00 | 100% | -20% |
3 | Burgers (8) | £3.60 | £0.79 per 100g | £2.00 | £0.44 per 100g | 80% | £1.60 | 80% | 0% |
4 | Ice cream Cones (4) | £4.25 | £1.06 per cone | £2.50 | £0.63 per cone | 70% | £1.75 | 70% | 0% |
5 | Ribs | £5.50 | £0.79 per 100g | £3.50 | £0.50 per 100g | 57% | £2.00 | 57% | 0% |
6 | Sausages (8) | £2.00 | £0.44 per 100g | £1.39 | £0.31 per 100g | 44% | £0.61 | 44% | 0% |
7 | Prawns | £5.00 | £2.22 per 100g | £3.50 | £1.56 per 100g | 43% | £1.50 | 43% | 0% |
8 | Veggie Burgers (2) | £2.50 | £1.10 per 100g | £1.75 | £0.77 per 100g | 43% | £0.75 | 43% | 0% |
9 | Cheddar cheese | £3.50 | £1.00 per 100g | £2.50 | £0.71 per 100g | 40% | £1.00 | 40% | 0% |
10 | Halloumi | £2.15 | £0.96 per 100g | £1.80 | £0.72 per 100g | 19% | £0.35 | 33% | -10% |
11 | Cider (4) | £5.00 | £1.25 per can | £4.00 | £1.00 per can | 25% | £1.00 | 25% | 0% |
12 | Olives | £2.90 | £0.32 per 100g | £2.49 | £0.27 per 100g | 16% | £0.41 | 21% | -4% |
13 | Beers (4) | £15.99 | £0.89 per can | £15.00 | £0.75 per can | 7% | £0.99 | 18% | -10% |
14 | Wine | £8.00 | £8.00 per bottle | £6.99 | £6.99 per bottle | 14% | £1.01 | 14% | 0% |
15 | Chicken Drumsticks | £3.30 | £0.33 per 100g | £3.00 | £0.30 per 100g | 10% | £0.30 | 10% | 0% |
16 | Steak | £5.50 | £2.42 per 100g | £7.80 | £3.00 per 100g | -29% | -£2.30 | -19% | -13% |
17 | Salad Bag | £1.00 | £0.83 per 100g | £1.00 | £1.11 per 100g | 0% | £0.00 | -25% | 33% |
Burger buns have experienced the biggest surge in price per unit over the past decade, with an increase of 108%. This is down to a combination of a 25p increase in item price and a 33% decrease in item size, meaning Brits are paying 25p more for a product that’s a third smaller than it was in 2014.
As for the burgers themselves, their unit cost has risen by 80% thanks to a price hike of £1.60 since 2014. Other popular meat items come high on the list, including ribs (with a 57% increase in unit cost) and sausages (44% increase). Even veggie burgers haven't escaped the heat, with a 43% unit price increase.
BBQ items that have decreased in size the most
In terms of items whose prices have risen while their size has shrunk, charcoal has seen a hefty £3 item price hike alongside a 20% drop in size. Halloumi isn't faring much better, with a 35p price hike and a sneaky 10% decrease in size. And for those who love a salty olive on the side, be prepared for a 4% smaller portion that'll cost you 41p more.
The size of a steak has also shrunk by 13%, however, unit prices have actually also decreased by 19% in line with this.
Rank | Item | Item size difference (%) |
|---|---|---|
1 | Burger buns | -33% |
2 | Charcoal | -20% |
3 | Steak | -13% |
4 | Halloumi | -10% |
5 | Beers | -10% |
6 | Olives | -4% |
How to budget effectively for grocery shopping
1. Plan your meals and make a list
Before heading out for a food shop, take some time to plan your meals for the week. This will help you avoid impulse buys and ensure you only purchase what you need. Write down a list of all the ingredients you need for your planned meals, and try to stick to it as closely as possible while shopping.
2. Set a grocery shopping limit and stick to it
Knowing your budget is key. Decide on a realistic amount you can allocate to groceries each week or month. Consider using a debit card preloaded with your food shop budget to avoid overspending. This helps you stay mindful and prevents the temptation to rack up credit card debt.
3. Make use of leftovers and batch cooking
Leftovers can be a great way to make your grocery budget stretch further. Try to plan meals with ingredients that can be repurposed for lunch or another dinner. Batch cooking larger portions on the weekend can also save you time and money throughout the week, as you won't be tempted by takeout options.
4. Use digital tools
Budgeting apps can be very useful. Explore options that let you set spending goals, track purchases, and find deals and coupons. However, if you use a credit card to take advantage of app features like cashback rewards, be mindful of not overspending. Set a limit for yourself and track your credit card balance closely to avoid racking up debt.
The content written in this article is for information purposes only and should not be taken as financial advice. If you require support on the products discussed here, please speak to your bank/lender or seek the advice of an independent professional financial advisor. We also have more information on our Customer Support Hub.
Methodology
To discover which grocery items have increased in price the most over the last decade, we recorded the prices of a variety of common grocery items and barbecue supplies from a well-known supermarket chain in the UK.
To analyse price changes, we used Wayback Machine to compare the costs of these items in 2024 to those in 2014. We then ranked items according to how much their unit price has increased over the last 10 years.
Item price refers to the total price of the product
Unit price refers to the price per quantity per relevant unit (such as grams, millilitres, litres, etc)
The latest available data was used and was accurate at the time of the research in May 2024.
Compare the Market’s Editorial Team is made up of industry experts with decades of experience in personal finance, insurance and utilities. Each of our authors has an area of expertise, where they can share their extensive experience to help you get a better deal, by finding the right product and saving money.
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