‘Not a lot of wiggle room’: Easter tipped to put pressure on family budgets

Australians are likely to spend up big over the Easter holidays, as the price of household favourites skyrocket.

The Easter long weekend is tipped to put a strain on already stretched household budgets, as the cost of holiday staples rises.

Fresh data prepared exclusively for NewsWire by Compare the Market points to households having to fork out more this holiday period.

The comparison site analysed the prices of 15 common Easter items including chocolate, seafood, hot cross buns and soft drinks.

In total shoppers would now spend $211.30 on these 15 items, an increase of $18.60 compared to this time last year.

Of these 15 items, 13 have increased in price while just two items – the Darrell Lea Easter Bilby and Woolworths’ Easter Mini Dessert Selection – remained the same price.

Not one of the 15 products had a price reduction compared with this time last year.

Compare the Market strategic communications manager Sarah Orr said households have the right to be frustrated by rising prices.

The price of chocolate is rising due to cocoa prices rising. Picture: NewsWire/ Gaye Gerard

“There’s not going to be a lot of wriggle room in the budget this Easter with price tags on some popular treats jumping up to 28 per cent,” Ms Orr said.

“While an extra dollar here and there might not seem like much, it all really adds up at the checkout. We know the average Aussie spent $212 a week on groceries in March. That’s about $21 or 11 per cent more than they were spending early last year.

13 of the 15 items surveyed rose over the last 12-months. Picture: Supplied.

Cocoa prices have soared to an all-time high over the Christmas break, although it has fallen back slightly in recent months.

These price spikes are the result of production issues in West Africa, including Ghana and Ivory Coast, where up to 70 per cent of the world’s cocoa is sourced.

The price of cocoa has skyrocketed in recent years. Picture, supplied Rabobank

Ms Orr said while production issues and supply issues have impacted pricing, savvy shoppers can limit the impact on their back pocket.

“When the difference between brands can be so significant, it’s still worth hunting for a better deal,” Ms Orr said.

“You may be able to nab a bargain by trying home brands or lesser-known labels that still taste great without the expensive packaging.”

Originally published as ‘Not a lot of wiggle room’: Easter tipped to put pressure on family budgets