As the Easter holiday approaches, UK shoppers are grappling with an unwelcome surprise at the checkout: rising prices and shrinking Easter eggs. Consumer research has revealed that the cost of chocolate products, especially Easter eggs, has surged, driven largely by a significant increase in cocoa prices.
The rise in cocoa prices, combined with a trend known as “shrinkflation,” has led to many shoppers paying more for smaller chocolate products.
Not only are many familiar chocolate eggs more expensive than in previous years, but some have also shrunk in size. This combination of higher costs and reduced quantities is squeezing UK households during an already financially strained period.
Chocolate Prices Surge Amid Global Cocoa Shortages
According to research by Which?, the price of Easter eggs from major brands such as Cadbury, Mars, and Terry’s has increased by up to 50% in some instances. This price hike comes alongside a reduction in the size of many products.
For instance, a 100g Terry’s Chocolate Orange mini egg pouch at Lidl saw a price increase of 56% per 100g in just one year, with the weight dropping from 80g to 70g.
The sharp increase in chocolate prices is largely attributed to the rising cost of cocoa. West Africa, particularly countries like Ghana and the Ivory Coast, produces over half of the world’s cocoa beans.
Poor harvests in these regions have caused a significant strain on global cocoa supplies, driving up prices. Despite efforts from major confectionery firms to absorb some of these costs, consumers are still seeing the impact on their grocery bills.
While inflation in the UK has slowed overall to 2.8%, food prices, including chocolate, have continued to rise at a higher rate. Chocolate inflation has climbed 16.5%, highlighting the ongoing struggle of households facing increased costs across various goods.
The Financial Impact on UK Consumers
The effects of rising cocoa prices are not limited to Easter eggs alone. Research from Which? also highlights that other popular chocolate products have been affected.
For example, at Morrisons, a pack of five Cadbury Creme Eggs saw its price rise from £2.62 to £4, an increase of 53% per 100g, despite the pack’s size remaining the same.
The phenomenon of shrinkflation has left many shoppers feeling frustrated. Reena Sewraz, senior money and shopping editor at Which?, advised consumers to compare prices per gram when shopping for Easter eggs, as the size reductions often disguise the true cost increase.
This type of price manipulation, where customers pay more for less, is becoming an increasingly common practice, especially as food and manufacturing costs continue to rise.
