Food prices have been steadily increasing due to the ongoing cost of living crisis. Many people are turning to supermarket own-brand products to save money, but even those prices are rising. Marks & Spencer, known for its luxury offerings, is also experiencing price hikes. For instance, their Classic Mayonnaise is priced at £1.50 for a 500ml tub, slightly higher than competitors like Sainsbury’s and Tesco.
Recently, M&S introduced a new range called Only… Ingredients, featuring items with minimal components. Surprisingly, the Olive Oil Mayonnaise from this range costs a hefty £4.50 for a 250g tub, compared to the Classic Mayonnaise.
The product description highlights its six simple ingredients, emphasizing the use of olive oil for a rich flavor. The steep price difference between the two types of mayonnaise reflects the increasing cost of olive oil in recent years.
The global olive oil market faces challenges like reduced supply from poor harvests, increasing demand, higher import costs, and currency fluctuations. These factors contribute to the rising prices of olive oil products in British supermarkets.
While some items in the Only… Ingredients range are reasonably priced, others like the Olive Oil Mayonnaise stand out for their high cost. Despite the appeal of simpler ingredient lists, consumers may find themselves paying premium prices for such products.