It’s impossible not to notice the impact of inflation on the food and drink we buy at the supermarket.
The official figure for last month, of 13.1 per cent, is higher than the broader inflation rate that hits the headlines, but in practice it’s likely many of the things you buy will have gone up by even more.
But there’s another hike in how much you pay that’s harder to spot. Shrinkflation, where items get smaller but stay the same price, isn’t anything new, but it’s certainly more likely to catch you out.
I was browsing the ice cream aisle the other day and wasn’t surprised that many of the leading brands now sell tubs sized around 460 or 465ml, rather than the traditional 500ml.
This cut happened a few years ago for the likes of Häagen-Dazs and Ben & Jerry’s. But I spotted both had some flavours that were even smaller, at 420ml.
Admittedly these were special ‘dual’ flavours, so there could be additional costs in processing that might justify the difference in price. But the packaging looked exactly the same size as regular tubs, which were situated right next to them.
For a casual shopper (and aren’t we all usually casual shoppers at the supermarket?) you’d see all these tubs at the same price and assume you’re getting the same amount of ice cream for your money. But you’re not. You’re getting nine per cent less (or 20 per cent less if you thought it was a standard 500ml carton).
There is a way to avoid this, and to help you find the best value items in the supermarket, not just ice cream. Below the price on the shelf label you’ll see the price per unit. This would show you which one is actually cheapest when it comes to things like 100ml and 100g.
So whether you’re comparing different sizes or brands, this is the key to working out which is cheapest and hopefully help you save money.
But there’s a catch – isn’t there always?! Sometimes, the supermarket will cheekily mix up the units. So for example, on things such as weight, you might see one price per 100g, and another per 1kg. There’s no justifiable reason for them to do this other than to confuse you.
Though in that instance it’s easy to adjust (move the decimal point one place and you’ll have a real comparison).
It’s more of a problem when non-comparable units are used. Sometimes, weight might be in grams, other times in pounds. Toilet rolls can be priced per roll or per sheet. Or you might some liquids by volume and some by weight, though this is pretty rare.
Worse is comparing fruit or veg, where some are by weight and some by bag. To experiment I put a pack of onions on the scales the other day. Priced at £1.60 for four, they worked out at £1 using the price for loose onions. So loose, for the exact same product, would save you more than 35 per cent.
Sadly, there’s no rule of thumb saying loose is always best (except when it comes to packaging). The only way to know for sure is to spend a moment checking when in store, which might not be practical.
And of course, if there’s a special offer such as buy two, get one free, this reduction in price per unit might not be reflected on the label, so you’ll need to do the maths yourself! But despite these drawbacks, I’m still a big fan of using these extra prices to help shoppers combat rising prices.
Andy’s Best Buys: New bank switch deal
HSBC has launched a new £200 bank switch bonus, making the joint highest paying incentive at the moment. It’s only open to new HSBC Advance customers who’ve not had an account since January 2019, You also can’t have opened a First Direct account in that time.
Switch over two direct debits or standing orders (the latter are easiest to set up) and pay in £1,500 and you’ll get the cash within three days.
HSBC
Switching offer: £200
When to expect the money: Three working days after completing the switch
Nationwide
Switching offer: £200
When to expect the money: Within 10 days of completing switch
First Direct
Switching offer: £175
When to expect the money: 28 days after meeting criteria
Lloyds
Switching offer: £150
When to expect the money: Within 30 days of meeting criteria (ends November 14)
For more details on these accounts and offers head to Be Clever With Your Cash
Andy Webb is an award-winning blogger and podcaster from Be Clever With Your Cash. Follow Andy on Twitter, YouTube and Instagram via @andyclevercash
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