That’ll make you grit your teeth! Tesco outrages shoppers by doubling price of a tube of Colgate toothpaste to £5
- The price has risen from £2.50 to £5 with the lower price available via Clubcard
- This comes as supermarket inflation hit 17.5 per cent in the month to March 19
Shoppers have been left outraged after spotting that a tube of Colgate toothpaste in Tesco has been priced at a whopping £5 amid grocery price ‘greedflation’.
Tesco has doubled the price of some Colgate toothpaste to £5 in what appears to be marketing ploy to get shoppers to sign for its Clubcard.
The shelf-price has risen from £2.50 to £5, however customers can continue to pay the original lower price if they use the supermarket’s loyalty card.
The increase will fuel suspicions that supermarkets and big grocery brands are cashing in from so-called ‘greedflation’.
Supermarket inflation hit 17.5 per cent in the month to March 19, up from 17.1 per cent in February, as consumers ‘take action’ by shopping around for the best value.
The shelf-price has risen from £2.50 to £5, however customers can continue to pay the original lower price if they use the supermarket’s loyalty card
A number of customers at Tesco, which is set to announce bumper profits, took to social media to criticise the new headline shelf price
This latest hit to grocery budgets comes as sales of tomatoes, peppers and cucumbers up by 32 per cent, 26 per cent and 21 per cent respectively during last month’s vegetable shortage.
A number of customers at Tesco, which is set to announce bumper profits, took to social media to criticise the new headline shelf price.
One angry consumer complained: ‘Tesco, £5 for toothpaste? Is this a joke?!’, while another wrote: ‘Getting atrocious, these price rises.’
There is evidence from Which? surveys that many shoppers believe supermarkets are pushing up prices by more than is justified in order to boost their profits.
Other everyday items which have left shoppers appalled at price hikes at supermarkets include Galaxy chocolate, with the price rising from 99p to £1.50 on their family favourite 110g bar.
That’s five times the current UK inflation rate.
Research from Which? showed that inflation on vegetables rose from 11.6 per cent to 13 per cent, juice drinks and smoothies went from 13.4 per cent to 15.1 per cent and cereals increased from 13.4 per cent to 14.6 per cent.
A senior Bank of England policymaker has also expressed concern that UK companies could be exploiting the cost of living crisis to push through inflation-busting price increases.
Catherine Mann, one of the nine members of Monetary Policy Committee, said she was concerned about the ability of firms to take advantage of consumer willingness to tolerate higher prices.
Millions of struggling families are trying to combat the price rises by switching to cheaper brands and budget stores with sales up by more than 25 per cent at both Lidl and Aldi.
This week the head of consumer insight at retail analysts, Kantar, Fraser McKevitt, said shoppers are seeking out deals associated with loyalty cards.
He said: ‘Store cards have emerged as an important way to provide value amid the high cost of living with the grocers offering cheaper prices, coupons and points for people who scan them at the till.
‘Our latest data shows that more than nine in 10 of us have at least one loyalty card in our wallets and usage is on the rise.’ mf(Tesco)