MR Kipling has given an update after its prices tripled in the past two years.
The cake maker’s Bakewell slices rocketed from £1 to £2.75 at Sainsbury’s.
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Meanwhile, its chocolate slices went up from £1 to £2.59 at Tesco over the past 24 months.
Today, Mr Kipling’s owner Premier Foods said it has no plans to hike prices for the rest of 2023.
It put the move down to easing inflation and it upping its earnings outlook.
The group also supplies retailers with a host of household favourites including Super Noodles, Ambrosia, Oxo cubes and Bisto.
It comes after Premier Foods pushed through other price rises in recent months to offset “significant” cost inflation.
In May, the food giant hit shoppers with price hikes of up to 76% to protect its profits.
Analysis by The Grocer and Associa for The Sun at the time found Premier Foods hiked a 230g tub of Bisto Best chicken gravy 50% from £2.50 to £3.75.
Cans of Ambrosia rice pudding also went up 76% from 99p to £1.74.
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But, now the company said its trading profits for the full year were set to be at the top end of market expectations.
Alex Whitehouse, Premier Foods chief executive, said: “We believe the recent period of significant input cost inflation is now past its peak and have no further price increases planned for the rest of 2023.”
It’s not just big name brands making increases too in the last few months.
Recent research carried out by consumer champion Which? tracked 21,000 products at eight supermarkets.
It said: “The recent headline-grabbing price cuts of a few pence on some products are encouraging but won’t be enough for many.”
Morrisons’ own mozzarella went from 49p to £1.19, while its gluten- free oats went from £1.20 to £2.75.
Asda’s Free From Special Flakes went from 62p to £1.50, and Lidl’s Chene D’argent Brie rose from 79p to £1.85.
A 4-pint bottle of milk had risen by 25% across almost all supermarkets to £1.45 last week.
While, medium sliced whole bread went from 58p to 75p.
Also published today is a report from the Competition and Markets Authority (CMA).
It said a lack of clear display prices could be impinging on people’s ability to compare products and therefore spend more.
The CMA has written to retailers warning them to make the necessary changes or risk enforcement action.
It is also calling on the Government to tighten the law around pricing displays.
How can I save on my supermarket shop?
You can also try looking out for yellow or red stickers on products that show when they’ve been reduced.
If the food is fresh you’ll have to eat it fast, or freeze it to have another time.
Sometimes even timing your shop to stock up just as items are discounted on the shelves can help you get the best bargains – lots of shoppers have said this is in the evening typically.
Making a list could save you some money too as you’ll be less likely to make any rash purchases when you get to the supermarket.
As we previously mentioned going own brand can be one easy way to save hundreds of pounds a year on your food bills.
That means going for “own” or “value” type products instead of “finest” or “luxury” lines.
Plenty of supermarkets run wonky veg and fruit schemes as well where you can get cheap prices if they’re misshapen or imperfect.
For example, Lidl runs its Waste Not scheme offering boxes of 5kg of fruit and vegetables for just £1.50.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
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