The article discusses the alarming increase in chocolate prices, which have surged by nearly 50% over the past three years, primarily due to extreme weather impacting cocoa producers in West Africa. Recent analyses indicate a 43% increase since 2022, with Easter products notably affected. The terms 'Chocflation' is coined to describe rising prices coupled with smaller product sizes. Additionally, while general food and drink prices saw a modest 4.4% increase, chocolate prices escalated by 16.5% in just one year, underlining the unique challenges faced by this industry.
Chocolate prices have surged by nearly 50% over the past three years due to extreme weather affecting cocoa producers in West Africa, highlighting the connection between climate change and food prices.
The steep rise since 2022 has led to chocolate price increases of 43%, with significant impacts seen in Easter products, raising concerns among consumers.
The term 'Chocflation' reflects not only higher costs but also the shrinking size of chocolate products, as seen by the notable price hikes reported by consumer groups.
While overall supermarket food and drink prices increased by only 4.4%, chocolate has seen a staggering 16.5% rise in just one year, indicating serious inflation issues.
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