Talysis cost-of-living white paper calls for industry action to prevent UK humanitarian crisis
DATE: 18 November, 2022 // BACK TO ARCHIVE »
Talysis Ltd has sounded a warning bell with the release of its latest white paper, The Hunger Games: Is the cost-of-living CRISIS set to become a CATASTROPHE?
The Hunger Games was produced using data from Talysis’s PriceCube solution, government reports and poverty campaigners. Looking at various meal options over the last year, the white paper shows that often the most basic basket of goods has risen in price disproportionately to more nutritious alternatives. In addition, almost all options across breakfast, lunch and dinner had risen by 20% or more, with some choices rising by over 30%. It’s not only the price of goods that’s impacting what is on our plates, but also shrinkflation* and poorer promotional offers. Shoppers are now spending more for less and even getting a raw deal on deals.
The white paper goes on to highlight how those households already on the most basic meal options are facing impossible choices. With colder weather still to hit and other costs continuing to diminish the weekly budget, the choice of heating vs food is set to become more pressing. The impact on households with children is even greater than those without, leading Talysis to pose a chilling question, based on a family of 5 and the cost of a meal rising by at least 20% as well as pack sizes shrinking. Does one child no longer eat?
Ed Roberts, Founder & Managing Director of Talysis, said:
“These are unprecedented times and we know that all parties in the supply chain are feeling the pinch, seeing lower margins and having to deal with raw material shortages/delays. However, plenty are still making decent profits and will continue to do so, even if they do tweak their margins. Our white paper highlights the stark reality that more and more households – and with that, children – will go hungry this winter, unless action is taken to keep the more staple items affordable for all. The most shocking findings are that either the whole family is mal-nourished or one child goes hungry. Whilst the latter is an unlikely outcome in practice, the ‘perfect storm’ of inflation, energy costs and soaring food bills is forcing more and more families to make tough decisions.
“It’s clear that the Government needs to do more to help struggling families and yesterday’s Autumn Statement provided little respite in that respect. Expanding free meals in schools only scratches the surface, but at least it provides some children with their only hot meal of the day. However the food industry itself can still make a difference and demonstrate its social conscience. Loyalty schemes and price-matching won’t feed the nation’s children; making sure that basic, healthy foodstuffs are affordable will.”
A copy of the white paper, The Hunger Games: Is the cost-of-living CRISIS set to become a CATASTROPHE? can be downloaded here.
*Shrinkflation: A grocery industry term referring to increasing prices and shrinking pack or product sizes