"The cost of chocolate has increased sharply as cocoa prices have soared after poor harvests in the key growing regions of Ghana and Ivory Coast over the past three years, amid extreme temperatures and unusual rainfall patterns driven by the climate crisis. The added cost has prompted manufacturers to use a number of tactics, from making bars and biscuits smaller to reducing cocoa content in an effort to keep the prices paid by shoppers down."
"Fraser McKevitt, the head of retail and consumer insight at Worldpanel, said supermarkets were investing heavily in promotional deals to win shoppers over. With the cost of living still biting for many this Christmas, just under one-third of all spending is on promotion as supermarkets find ways to shield shoppers from the impact of price rises, he said. The cost of a frozen turkey, the most expensive component of an average Christmas dinner, has fallen by 3.6% to 13.52, Worldpanel found."
Chocolate prices in Great Britain increased 18.4% year-on-year in November, driven by soaring cocoa costs after poor harvests in Ghana and Ivory Coast and extreme weather linked to the climate crisis. Manufacturers responded by shrinking bar sizes and reducing cocoa content to limit price rises for shoppers. Supermarkets heavily promoted products, with just under one-third of spending on promotion, helping bring the average cost of a Christmas dinner for four down by one penny to £32.46. Frozen turkey fell 3.6% to £13.52, while potatoes, cranberry sauce and stuffing mix all became more expensive. Five million households bought confectionery Advent calendars in November.
Read at www.theguardian.com
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