Tesco and Morrisons punters feel the pinch as the cost of some cereals has DOUBLED since last year
Cereal costs are reportedly on the rise due to the fall of the pound
FAMILIES are paying up to five per cent more for their favourite breakfast cereals than a year ago.
Average prices are up two per cent across 653 branded and own label products, data from analyst Brand View found.
Trade magazine The Grocer reported that at Tesco average prices are up 5per cent year on year across a comparative line-up of 338 cereal products, reflecting fewer promotions compared with this time last year and some recent price rises on own-label products.
It added 20p to a trio of own-label premium mueslis and granolas last month, for example —- which are now £2.40 for 500g.
The Brand View data also found that cereal is 5 per cent dearer than last year in Morrisons and 2per cent more expensive in Sainsbury’s.
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The Grocer said that Sainsbury’s has added 20p to a 790g pack of Kellogg’s Corn Flakes and 500g pack of Kellogg’s Frosties.
But the magazine said that Morrisons has increases prices on some branded products since January such as Kellogg’s Special K Red Berries 360g —-up 94p to £2.94 —- and Kellogg’s Bran Flakes 500g up £1 to £2.
The Grocer says that Weetabix was the first to warn that cereal prices would have to rise back in January 2017 with chief executive Giles Turrell blaming surging commodity costs following the drop in the pound after the Brexit vote.