Christmas fruit cake inflation
- Trinity Auditorium
- Dec 16, 2024
- 1 min read
A post with a festive theme. This is from the Westpac Weekly Commentary which has a ‘Chart of the week’ feature. This week they looked at the change in price of ingredients of a Christmas fruit cake since 2005. Some points of note:
Cost of ingredients 2006 – $7.20
Cost of ingredients 2024 – $16.20
Since the pandemic ingredients have increased 35%.
The main drivers of cake inflation have been dried fruit which has increased from around $4 to approximately $9. Butter has also increased – approximately $2 to over $4.
The main reasons for higher price of dried fruit are the labour-intensive harvesting and the unpredictable weather conditions, pests, and disease management which influence the yield and ultimately the price. Furthermore, the surge in demand for healthy snacks has led to consumer preferences shift towards the dried fruit option.
Enjoy your Christmas fruit cake this holiday.
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