Average bread prices increase by almost 30% in 12 months
The average price of an 800g loaf of sliced white bread has risen 28% in the last 12 months, from £1.06 in November 2021 to £1.36 last month.
This means consumers are now paying 30p more for a loaf according to data from the Office of National Statistics (ONS).
The ONS monitored three loaves – white loaf sliced, white loaf unwrapped and wholemeal loaf sliced. Of the three, unwrapped loaves have recorded the smallest price hike, with an 800g white unwrapped loaf up 20 pence, or 16.5% to £1.41.
Wholemeal bread prices have not increased to the same scale, with an 800g loaf of sliced wholemeal bread increasing to £1.29, a rise of 21 pence or 19.5%.
According to a recent Open University study, the top three threats to small bakery businesses are rising ingredients costs, energy price hikes and the cost of living as consumers face tougher decisions on how to feed their families.
It is within this current climate that Hovis launched its Hovis Simple White Loaf, which is targeted at consumers affected by the cost-of-living crisis. The pricing for their 800g loaf is at the discretion of retailers.