The price of a traditional Tyneside treat could roll up to £1.94 by 2042, according to the latest research into the rising cost of food.
Newcastle-based Greggs sells around 2m sausage rolls every week, but if you have a taste for the iconic snack, you may have to find an extra 74p in 20 years time compared to the average price today of £1.20. Over the last few years, the Gregg's sausage roll has been a key item in representing the true impact of inflation, and with news that Britain’s retailers have said shop price inflation has yet to peak this year, credit card company Aqua decided to crunch the numbers to see how much we could be paying for some of our favourites in 20 years time.
The British Retail Consortium has said the price of food and drink, clothing and other items sold in shops and online would continue to rise at a rapid pace, even if the UK’s official inflation rate for all goods and services fades over the coming months, and the warning came after figures from the retail analysts Kantar showed grocery price inflation in the UK hit a fresh record high of 16.7% in the four weeks to January 22, adding nearly £800 to the typical annual shopping bill
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Aqua used a combination of the OECD’s inflation forecast, and the Bank of England’s target ongoing inflation rate - and the predictions could well give you indigestion.
If you've got into the habit of popping into a supermarket for a meal deal a couple of times a week, you might want to rethink that in the future, as Aqua predicts the popular lunch will rise by a £2.15, taking the price from around £3.90 today to a shocking £6.05 in 2042. If McDonald's is more your thing, you might find the hike from an average of £6 for a Big Mac Meal today to £9.30 in 2024 hard to swallow.
And if your idea of a relaxing Sunday is a roast at your local pub, get ready to stump up an additional £10 over the next 20 years if inflation rises as predicted. Researchers took an average price of £15.42 from eight cities, including Newcastle, today and reckoned you could be paying around £22.46 in 2042.
Other treats Aqua priced up for 2042 included:
A Freddo Frog: A Freddo Frog chocolate bar costs 30p today, which some already feel is extortionate as they remember them being just 10p from its launch in the 1990s up until 2005. This kiddies' treat is expected to cost an extra 17p by 2042, taking the price up to 47p.
Cornetto Ice Cream: A Cornetto ice cream on a hot summer’s day is one of life’s greatest joys, but it could cost you .£4.33 for a a six pack by 2042, compared to £2.79 today.
A Colin the Caterpillar Cake: Kids’ birthday party staple, Colin the Caterpillar, currently costs £8.00 at M&S and could rise to £8.15 by the end of the year. However, party-planning parents can expect to fork out an extra £4.40 by 2042, taking the price to £12.40.
A Bottle of Heineken: A 330 ml. bottle of the UK’s third most popular beer brand, Heineken, currently costs just £1.10, but by the end of this year, we could see the price rise to £1.12. Over the next 20 years, we can expect an extra 61p to be added on top of this, taking the price to £1.71 in 2042 assuming there are no changes to alcohol duty.
Milk Chocolate Digestives: Biscuit tin staple milk chocolate digestives costs 59p, and over the next 20 years, we can expect the price of this biscuit to rise gradually to 91p in 2042.
A Box of Yorkshire Tea Teabags: Tea-drinkers expect to pay an average of £5.03 for 160 Yorkshire Tea teabags, but with the predicted rate of inflation, they will rise to £5.12 by the end of the year. In 20 years, however, Yorkshire Tea teabags could increase in price to £7.80, increasing the cost of a cuppa by 2p.
A Bottle of Pimms: British BBQ favourite Pimms currently costs an average of £21.75 for a 1 litre bottle and by the end of this year, this price is expected to increase to £22.15. Looking ahead to 20 years from now, we can expect to be paying almost £12.00 extra by 2042, assuming there are no changes to alcohol duty.
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