Nostalgic Brits have been left gobsmacked after comparing the difference in cost of several popular goods and services in 2024 compared to 1995.
Of course, one of those used to illustrate the changes was Cadbury’s Freddo – a small chocolate bar often used online as a basis for comparison and mock outrage. Instagram account ‘I’m Just Bait’ shared a series of snaps to emphasise the significant changes.
« While the prices in this list are averages and will vary by location, they highlight just how much the cost of living has changed in the UK over the last 30 years, » the account stated. Beginning with a typical pint of lager, the average price has risen from £1.66 (1995) to £4.70 (2024) over the course of the past 29 years.
During that same period, the cost of fish and chips has increased from £1.68 to a jaw-dropping £9, while the confectionary favourite Freddo has more than trebled in price from 10p to 35p. Elsewhere on the shelves, a dozen eggs (63p to £2), Pot Noodle (50p to £1.20), and a pint of milk (36p to 85p) have all seen similar relative increases.
Fuel cost is often a sore point among disgruntled Brits – with a litre of petrol typically rising from 60p to £1.50 over 29 years, while smokers must be fuming quite literally after seeing packets of cigarettes rise from £2.59 to a staggering £12.
But surely our salaries have risen at around the same rate accordingly? Perhaps so. The average salary in 1995 was £12,088 compared to £31,000 today. One area in which prices have increased dramatically out of proportion, however, is when it comes to buying a house. In 1995, the average home in the UK would set you back £53,213 – but today that figure stands at £268,144.
Writing in response, meanwhile, some Instagram users suggested the 2024 prices included were generous – suggesting they’re more than the post stated. « Where is fish and chips £9 please? » one person asked. « A small cod in London is £13/14 WITHOUT chips. Once you buy chips, you’re looking at about £17/18. God forbid you’re actually hungry and want to go large. »
Another person asked: « Where they getting a beer for that price? London’s pulling them for £7 a pint as standard! » A third hit out: « Prices have gone up, yet the quality of the actual products has been deteriorating. »
We often hear the older generations say: « Things were much cheaper in my day, » and there’s a reason for that. Ocean Finance explains the Bank of England sets a 2% target for annual inflation, which delivers a slow and steady increase in prices each year.
It added: « However, the actual rate varies depending on the economic climate. In July 2022, the rate of inflation was 10.1%, a 40-year high. Since the Freddo’s launch in 1994, inflation has averaged a rate of 3.00% per year. Had the cost of Freddos risen at the same rate, they should be around 23 pence a bar, meaning we’re paying two pennies too many. »
In addition, we’re spending more than £1,000 more a year on the weekly shop than in the late 90s. « Food and non-alcoholic beverages are a significant contributor to rising inflation, with prices rising by 9.8% year on year in June 2022 according to Asda’s income tracker, » Ocean Finance adds.
« In fact, we’re now spending more than double the amount we spent in 1997. Back then, the average weekly food shop per person was just £16.71. But, by June 2022, the average had risen to £36.43. That’s a huge 118% increase and equates to spending £1,025 more on food, per person, per year.
« If you look at inflation over this period, which averaged 3.03% per year, your food shop would be £35.11 per person, per week had costs risen solely in line with this measure. This means we’re spending £1.31 more per week, or £68.12 more per year, per person. But, it’s important to remember that our shopping habits have likely changed over time, so we may not be able to blame our higher spending on the rising cost of goods alone. »
