The surprising fall in cost of the UK's food

Good news for shoppers: supermarket giants Tesco and Sainsbury’s have cut the price of a basket of basic household goods by 12%-13% over the past four years, Guardian Money can reveal. Sainsbury’s this week blamed price deflation for a slide in profits, saying that the cost of goods in its stores has fallen on average by 4% over the past two years. But Guardian Money research, comparing prices in 2012 with today, shows that the falls have been even sharper, with basics such as bread, eggs and milk all down markedly. Eggs in particular have collapsed in price, from around £1.48 for six to just 85p. In Money’s basket of goods, we found every single item has fallen in price over the past four years, apart from one or two items at some supermarkets which were on special promotion when we first researched prices in 2012.

Source: The Guardian, 7th May

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