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Why the price of your breakfast is the latest thing to skyrocket amid Australia’s cost-of-living crisis
- Breakfast cereals are the last affected by the increase in prices
- Coco Pops have risen to $9 per 650g box at Coles
- Cost of living and inflation have hit record rates recently
A rise in the price of breakfast cereals is the latest challenge for cash-strapped Australian shoppers facing record increases in the cost of living.
Kellogg’s cereal prices have risen sharply along with other household items such as milk, eggs and bread, as Australia’s inflation rate hit 7.8 percent in January.
A video posted to the TikTok channel OnlyPans___ shows supermarket giant Coles offering a special on the popular Coco Pops cereal for $9.50 a box, or $17.10 for two.
‘This is a fucking joke, right?’ the channel’s owner, Lauren Whitney, said in the video.
A video posted to the TikTok channel OnlyPans___ shows supermarket giant Coles offering a special on the popular Coco Pops cereal for $9.50 a box, or $17.10 for two.
Ms Whitney criticized Kellogg’s and supermarkets for raising prices while their customers struggled.
“The simple fact is that these big companies make billions a year, just like the government with taxes, while we are here struggling to get ahead,” he commented in the publication.
Other TikTok users quickly jumped on the video to voice their opinion on the price hike.
‘When did Kelloggs become a designer brand?’ joked one user.
“Especially this week for 5 bucks…you shouldn’t have to pay more than 5 bucks for a cereal any time of the year,” another user wrote.
One user wrote about her own shopping costs: ‘My weekly shopping has gone up almost $200 in the last three months. Same foods all went up in price and I buy the specials mostly.
The $9.50 price on Coco Pops is a jump from $7.50 on similarly sized boxes earlier this year, while Nutri-Grain boxes have recently gone up from $6 to $8.50 as well.
A Kellogg’s spokesperson explained that the price increase was due to rising production costs combined with inflationary pressures.
A Kellogg’s spokesperson explained that the price increase was due to rising production costs combined with inflationary pressures.
“With the highest food production costs in decades and the impact of supply chain and inflationary pressures, we recently increased the price of our grains,” the spokesperson told News.
“We believe Kellogg’s continues to offer Australian consumers great tasting food and value, Coco Pops are available in three sizes to suit a variety of households and budgets, and cost less than 50 pence per serving based on RRP.”
For employed households, where wages are the main source of income, the cost of living rose 9.3 percent over the past year, the largest increase since the statistic was first measured in 1999.
“Households with employees posted their biggest quarterly increase since the September 2000 quarter, which followed the introduction of GST,” said Michelle Marquardt, head of price statistics at ABS.
Daily Mail Australia contacted Coles and Kellogg’s for comment.