Cost of living: Jesmond residents lament Tesco meal deal price increase
Jesmond residents have explained how the increased price of Tesco’s meal deal has affected them.
Due to the growing price of raw ingredients, Tesco has raised the cost of their popular meal deal from £3.50 to £3.90 for non-Clubcard holders, and from £3 to £3.40 for those who hold a Clubcard.
JesmondLocal spoke to residents disappointed about the increase in price.
Tesco’s meal deal prices increase. (Photograph: Taoying Chen)
Caitlin, 21, who is studying at Northumbria University, said: “It is ridiculous. I hope it goes back to £3. But when compared to other stores, Tesco is still the greatest choice for meal deals. I might shop somewhere else if prices climb more.”
Students and permanent residents alike are starting to move to other shops to buy their meals. Georgie Pringle, 18, studying politics and sociology, said: “I don’t think it’s good for the students. I think [Tesco] could lose a lot of customers because it’s matching the price of everything else. I’d rather go to Sainsbury’s or even buy from Waitrose, that’s better. And it would be the same price.”
Sainsbury’s and Greggs meal deal prices are similar to Tesco’s. (Photograph:Taoying Chen)
Compared to other Jesmond-based supermarkets and shops, Tesco is now on a near-equal footing. Meals cost £3.50 at Sainsbury’s and £3.60 at Greggs. Prices at other independent sandwich shops range from £4.50 to £6.50.
Consumers are starting to carefully manage their budgets for meals. Yunfen Xue, a 36-year-old barista, said: “The meal deal has always been one of Tesco’s specialities and the price increase could lead to a reduction in sales for a short period of time, or customers could choose an alternative lunch, or go to another supermarket.
Stanley Bull, 25, owner of Brew Bakehouse on Acorn Road, also agreed that increase in price of the Tesco meal deal may help their sales. Tesco has always been known for its low prices, however current price increases mean it is now not much different from other shops.
Xue said she recognises why prices have gone up. “The main reason for the price increase would be that both raw materials and water, electricity and gas have gone up, so the cost of the meal deal has also increased,” she said.
According to data from the Office for National Statistics, food and beverage inflation increased to 14.5% in September, which is the highest level since 1980. Following the conflict in Ukraine, greater expenses for food production have led to an increase in food, energy, and oil prices as well as the recent decline in the value of the pound.
The UK’s inflation rate has reached above 10%, the highest level in 40 years, driving up the cost of basic goods like food and petrol. Hence, price increases are inevitable in all shops.
Tesco in Jesmond was approached for comment but declined to speak for this story.