To the unsuspecting Aussie, it may seem like the cost of many popular grocery items hasn’t gone up, but there’s more to it than meets the eye.
To the unsuspecting eye, it may appear that the cost of many popular grocery items such as crisps, chocolate bars and peanut butter has not risen amid the much-discussed cost of living crisis affecting Australia.
Buyers looking at the tags on these items assume they are paying the same prices as they were a few months ago, despite rising inflation.
However, a disturbing new report has revealed that the size of these products has decreased, despite costs having remained the same or even increased.
Money saving app economical has released a list of products affected by the phenomenon known as “shrinkage inflation”.
It found that some products had decreased in size by up to 20 percent, with no change in price.
For example, Mars chocolate bars have dropped from 53g to 47g and still cost customers $2, while Arnotts Tina Wafers have dropped from 250g to 200g and still cost $3.05.
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Burger Rings and Twisties have both reduced their serving size from 100g to 90g and still cost shoppers $2.20 instead of $2.
The report revealed that other grocery items had been reduced by 17 percent, while costing shoppers more.
A tub of Bega Peanut Butter fell from 500g to 470g and in June 2020 the price increased by 20 cents from $5.70 to $5.90.
Here’s a rundown of some of the popular products hit by “shrinkage”:
Mars Chocolate Bar – 53g to 47g – Cost: $2
Helgas Wraps, Traditional White – 508 8 Pack to 508 8 Pack – Cost: $5
Arnotts Tina Waffles – 250g to 200g – Cost: $3.05
Oreo Cookies Original – 137g to 133g – Cost: $2
Doritos cheese dip – 300g to 280g – Cost: $2.50
Bega Peanut Butter – 500g to 470g -Cost: $5.70 to $5.90
Cheetos Cheese Balls -100g to 90g – Cost: $2 to $2.20
Jumpys Chicken Chips – 6 Pack to 5 Pack – Cost: $3.20 to $3.50
Twisties Chicken – 100g to 90g – Cost: $2 to $2.20
Burger Rings – 100g to 90g – Cost: $2 to $2.20
Frugl CEO Sean Smith told the courier postthe chances of these products ever returning to their original size are slim — adding that prices were more likely to fall in the distant future.
“These pressures don’t seem to be easing anytime soon and if we look at the past 12 months, the bulk price hikes have occurred in the last quarter,” said Mr. Smith. “It’s quite recent because of major events, especially the war in Ukraine and its impact on fuel costs.”
Food inflation across the country started rising late last year, and while initially hitting mostly meat and imported products, it has since expanded to nearly every category.
The price of vegetables has skyrocketed, with some Australian supermarkets charging up to $10 for a lettuce due to shortages caused by a poor growing season and flooding on the east coast.
Supermarkets take action against rising costs
As the cost of basic goods and utilities such as gasoline and fresh produce continues to rise, Coles and Woolies have taken steps to address the crisis.
For the first time, Woolworths has announced it will freeze the prices of “meaningful essentials” until the end of 2022.
The freeze will affect products and essential items such as flour, sugar, canned tomatoes, frozen peas, chicken tenders, washing powder and washing up liquid.
In an email that began circulating among customers Thursday, Brad Banducci, head of the Woolworths Group, said the average family spends more than $200 a week on groceries and daily necessities.
“We know this is a significant portion of the weekly household budget,” he said.
“As we are all leaning towards the challenges of inflation, rest assured that the entire Woolworths team is committed to ensuring you can always get your Woolies value.”
Customers can find the full list of price freeze products here†
The items join an existing 300 “Winter essentials” whose price tags have been dropped.
It comes after Coles announced his own cost of living solution this morning, give customers 10 percent off select Coles MasterCard gift cards†
Beginning Wednesday, Coles is offering 10 percent off the total transaction price for $100 and $250 gift cards for just one week, although there is an additional purchase fee.
The majority of consumers (58 percent) use gift cards in their weekly shopping, followed by utility and service bills.
Cole’s non-food general manager Jonathan Torr said the offer is about helping Australians tackle the current cost of living.
“We understand that many Australians are struggling with the rising cost of living and we are always looking for ways we can bring the very best value to Coles to make a difference,” he said.
“The 10 percent discount on select Coles MasterCards will provide some temporary relief from everyday spending, as the gift cards can be used for everything from the weekly shop to paying the household bills – it can even be used to pay during the end of the season. day to maximize savings at other retailers. sales of the financial year.”
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