THE cost of Eccles cakes has soared 25 per cent as supermarkets impose above-inflation price rises to boost profits, an expert warns.
Ged Futter said stores are charging more for certain items without paying suppliers a penny extra.
The cost of Eccles cakes has soared 25 per cent as supermarkets impose above-inflation price rises to boost profits
The former Asda buyer said the cost of producing the currant and flaky pastry favourite has not gone up and makers are not increasing their charges to chains.
But he claimed some shops put up prices on such goods to “balance the books” against those that have.
Mr Futter spoke out after Sainsbury’s began charging £2.30 for Real Lancashire Eccles Cakes — 61p more than at B&M.
Morrisons also raised the price to £2.29, Asda to £2.20 and Aldi to £2.19.
Ged said: “We are seeing above inflation increases for certain products.
“This is because in some categories — like vegetables and salad items — supermarkets are not passing on the increased costs they are facing to customers, but in other areas they are.
“Supermarkets are trying to balance the books.”
It emerged this week that Lancashire Eccles Cakes — makers of the treats since the 1930s — reported a fall in profits from £1.1million to £719,000 last year.
They blamed supermarket price hikes and shoppers cutting back on snacks.
Ged, now an expert at the Retail Mind company, said UK shoppers still pay some of the lowest grocery prices in Western Europe.
Ged Futter claimed some shops put up prices on such goods to ‘balance the books’ against those that have
