Australian shoppers can anticipate a staggering price hike of up to 33 percent for certain Easter eggs compared to last year, alongside fewer treats in other products, as revealed by an investigation from Choice.
The prominent consumer advocacy group has uncovered that offerings from Cadbury, Nestle, and Aldi have seen a reduction in size while their prices either remained stable or increased as a result of shrinkflation.
This shift is driven by a significant surge in cocoa prices, which has escalated the costs of chocolate products.
READ MORE: The sneaky way food companies are passing on cost increases to you
The research highlighted that a 24-pack of Cadbury Dairy Milk hollow chocolate eggs, previously priced at $12.50, now features only 22 eggs for a new price of $15.
According to CHOICE journalist Liam Kennedy, “This means consumers are paying 31 percent more per 100g of chocolate than they did last year.”
Another item from Cadbury, the large 340g chocolate egg, has maintained its price at $20 but had an additional 60 grams in its previous year’s offering.
READ MORE: Chocolate prices expected to rise ahead of Easter
Nestle’s KitKat-flavored mini eggs have kept their price at $3.99, but the product size has shrunk from 110g to 90g since last February.
Aldi’s Dairy Fine Milk mini eggs have similarly decreased in size, dropping from 400g to 300g while the price remains at $5.99.
Even though the price has not changed at $5.99, consumers are now paying 33 percent more per 100g for their chocolate fix,” Kennedy noted.
For those aiming to spot shrinkflation, CHOICE advises consumers to count the number of eggs in their package and compare it with the packaging details.
Chocolate enthusiasts should also monitor the unit price for any changes in value, and be wary of marketing phrases like “new and improved,” which often follow product shrinkage.
According to Kennedy, “With many consumers still struggling to afford food and groceries, the last thing they need is the squeeze on their Easter favorites.”
Garry Mortimer, a professor at Queensland University of Technology, indicated that consumers should brace for higher chocolate product prices this year.
He remarked, “We have observed the commodity price of cocoa, essentially chocolate, skyrocket in the last 12 to 18 months,” suggesting a potential retail price increase of 10 to 20 percent.
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