Bacon sandwiches more expensive (and probably a bit smaller) after pork and butter prices soar
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The price of making a bacon sandwich has soared as both pork and butter prices rose.
New figures show pork prices on the international market have hit a four-year high and butter is trading at almost twice the price it was this time last year.
Pork products are leaving farms costing 12 per cent more than 12 months ago, the latest data reveals, while butter from producers has been 91 per cent higher.
Demand continues to outstrip supply in foreign markets which has a knock on effect for price tags here, said agribusiness specialists Rabobank.
Supermarket figures in July showed fresh pork in British retailers was up six per cent year on year and bacon up two per cent.
But some popular products by more as shops spread the cost across the shelves.
(Image: REUTERS)
Some supplies have resorted to 'shrinkflation' - for instance Richmond Sausages who have cut a pack of 16 down to 14 but kept the price the same.
Butter is also rising significantly because many producers are cutting back on the amount of butter they make in order to produce more cheddar, which has a greater profit margin and is also rising in demand.
Butter production in the UK has fallen seven per cent over the past 12 months and prices from the producers are 91 per cent higher, on average, than this time last year at around £5,730 per tonne.
(Image: Getty Images/Hemera)
As with pork, prices on supermarket shelves may not always reflect the whole increase as some retailers absorb the prices.
But there have already been reports that prices are up by between 20-50 per cent in shops.
Not only is the price likely to continue to rise but could also mean shortages by Christmas as supplies continue to fall but demand does not, say analysts.
The Grocer said: "Butter prices have continued to rise over the past month thanks to low supplies across the EU and high consumer demand.
"In the UK, dairies prioritised cheese processing over butter due to increased profitability."