Staple foods like rice, spaghetti, baked beans and tea bags could cost consumers over three times as much if budget-range options are unavailable, leading them to buy standard own-brand alternatives, research from Which? highlighted.
Analysing nearly 26,000 food and drink products across eight major UK supermarkets, the consumer champion found that shoppers who rely on convenience stores often find themselves without the cheaper budget options, resulting in higher costs.
Sue Davies, Which? head of food policy, said: “As millions struggle with increased food prices and other high household bills, it’s staggering that shoppers face paying over three times more for items if they can’t get to a larger supermarket.”
Revealing significant price disparities, the research found when shopping at retailers like Asda, without the budget range option, shoppers would pay 246% more for standard own-brand rice. A popular comparable branded alternative was 833% dearer than the budget version.
Tesco PLC (LSE:TSCO) and J Sainsbury PLC (LSE:SBRY) also exhibited similar price differences and in one case, Heinz Baked Beans cost 396% more than the budget option at Wm Morrison Supermarkets.
Exacerbating the issue is the revelation that supermarkets tend to charge higher prices for the same products at convenience stores compared to larger stores, hence, the price comparisons provided by Which? may underestimate the real cost for convenience store customers.
“Which? is calling on all major supermarkets to ensure expensive convenience stores are stocked with a range of essential budget ranges so that hard-pressed customers can afford important staple foods to feed themselves and their loved ones healthily,” Davies added.
Grocery inflation slowed to 12.5% in August, yet it remains significantly high and food prices have become a major contributor to overall inflation, surpassing household bills, the consumer help group concluded.