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Soft drink prices have almost doubled in just a year with new data showing Australians are paying a lot more for everyday groceries.
Consumer groups One Big Switch and Frugl Grocery compared the prices of common items in February 2021 and February 2022.
In many cases, prices are surging at rates well beyond inflation, with double-digit annual increases for soft drinks, instant coffee, baked beans, canned fruit and minced meat.
Two-litre bottles of orange Fanta sold at Coles had the biggest increase, with prices surging by 94 per cent, almost doubling from $2.35 to $4.55.
Two-litre bottles of orange Fanta sold at Coles had the biggest increase, with prices surging by 94 per cent, or almost doubling from $2.35 to $4.55
Items that have surged in price in a year
Fanta two-litre (Coles): Up 94 per cent from $2.35 to $4.5
Kirks 10-pack cans (Woolworths): Up 70 per cent from $6.20
Coca-Cola two-litre (Coles): Up 60 per cent from $2.85 to $4.55
Coca-Cola bottles of the same size soared by 60 per cent from $2.85 to $4.55.
At Woolworths, a 10-pack of Kirks cans climbed by 70 per cent from $6.20 to $10.55.
Instant coffee prices also soared with Nescafe and Moccona going up by 50 to 74 per cent at both supermarkets.
The price increases were well beyond Australia’s headline inflation rate of 3.5 per cent last year.
This occurred as Australian wages grew by just 2.3 per cent, with higher inflation effectively eating away pay increases.
One Big Switch campaign director Joel Gibson said higher prices for everyday goods hurt low-income earners.
‘We’re taxing the poor,’ he said.
‘If you buy a lot of soft drinks, baked beans and beef mince, you rent in regional Australia and use daycare, your cost of living has skyrocketed.’
Australia’s supermarket giants are increasing prices for common goods at levels that are beyond inflation.
Coca-Cola bottles of the same size soared by 60 per cent from $2.85 to $4.55
At Woolworths, a 10-pack of Kirks cans climbed by 70 per cent from $6.20 to $10.55
Last year, the food and non-alcoholic beverages component of the consumer price index, as calculated by the Australian Bureau of Statistics, rose by a modest 1.9 per cent.
Yet Coles and Woolworths increased their average prices in this category increased by 2.56 per cent.
Food staple prices increased at an even starker pace with diced beef prices rising by 22 per cent as basic beef mince prices went up by 14 per cent.
Cooking oil prices rose 19 per cent as prices for baked beans and tinned spaghetti increased by 21 per cent.
Branded canned fruit prices rose 17 per cent.
One Big Switch and Frugl Grocery compared 15,000 grocery items sold in NSW, referencing historic data and online prices.
The analysis focused on standard prices, with promotional offers excluded.
In many cases, prices are surging at levels well beyond the already-high inflation rate with double-digit annual increases for soft drinks, instant coffee, baked beans and minced meat (pictured is a Coles supermarket in Sydney)