"The butter meltdown was prompted by a steep climb in prices that began with the Russian invasion of Ukraine the previous year. By the start of 2023, the cost of a pack of Lurpak had gone up in some places by 37%, and people on social media were posting pictures of butter with its own security tag. What next: would they have to sell it like shoes, and keep the crackers on display and the spreadables out the back?"
"At its height, which was 2023, grocery inflation hit 17.5%, which sounds less bad than it felt, because that was an aggregate across all foodstuffs, and there were one or two that went down in price. In fact, it was the highest shopping-basket hike since records began in 2008, costing the average household an extra 683 a year on food had they bought the same goods as the year previous."
Wage increases finally began to outpace price rises in June 2023, signaling a turning point after an intense phase of inflation. May 2023 saw a viral controversy when Lurpak and Anchor reduced their standard butter pack from 250g to 200g, while some supermarkets continued charging higher prices. The downsizing drew consumer outcry and a defensive brand statement about making prices more accessible. Price spikes followed the Russian invasion of Ukraine, with some Lurpak packs up 37% and images of butter with security tags circulating online. Grocery inflation peaked at 17.5% in 2023, the highest since 2008, costing households an extra 683 a year on food.
Read at www.theguardian.com
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