Food inflation pushes consumers to the limits of what they are willing to spend, costing retailers sales
When George Osborne came unstuck with his “pastygate” budget 13 years ago, a Greggs sausage roll cost 66p: a price from another planet for consumers in 2025.
The Conservative chancellor’s plan to impose VAT on hot food – including Cornish pasties and sausage rolls – would have imposed a 20% price rise. The backlash – led in part by the Newcastle-based bakery chain – was swift: Osborne, branded posh and out of touch, was forced into an embarrassing U-turn.
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