Chocflation: What’s behind the Easter Egg price hike?

The Easter bunny’s reminder that nothing’s immune to inflation…

As Easter approaches, chocolate lovers will be eager to secure their annual bounty of eggs. However, they might be met with a bitter surprise at the checkout this year. Last year, the price of chocolate shot up by 11% – surpassing inflation rates of all other foods across UK supermarkets – and is likely to continue rising this year due to ongoing challenges in the global cocoa market. Here’s a closer look at how the prices have changed, what’s causing it and how you can still bag yourself cheap chocolate this Easter!

The role of climate change in skyrocketing chocolate prices

With cocoa being the main ingredient in chocolate, the root cause for these price hikes lie in the global cocoa market. Cocoa beans are a particularly volatile crop, as their fertile region lies in a narrow band across the equator which is vulnerable to sudden changes in climate. The global cocoa market is dominated by a small handful of countries, primarily in West Africa, which account for around 60%-70% of the world’s cocoa exports.

To make matters worse, weather conditions have been particularly bad in the region over the past year, with countries like Ghana and the Ivory Coast witnessing unusually heavy rainfall during the wet season. This has been compounded by the El Niño phenomenon (a climate pattern characterised by the periodic warming of sea surface temperatures in the central and eastern Pacific Ocean, causing global weather disruptions like droughts, floods, and extreme temperatures) leading to disrupted cocoa harvests and reduced yields. Beyond weather-related issues, cocoa production is also threatened by tree diseases, deforestation, illegal mining practices, and the rising cost of fertilisers. These factors, combined with the growing global demand for chocolate, have created a perfect storm of scarcity and rising prices.

As a result, the wholesale price of cocoa has quadrupled in just 12 months. According to market data from the Financial Times, as of mid-January, the cost of cocoa had risen by an astonishing 143% over the past year, compared to the same time last year. This dramatic spike led to a staggering 11% rise in chocolate prices across UK supermarkets last year. So, chocolate retailers and supermarkets alike should brace themselves for a continued projected rise in chocolate prices this Easter.

How the cocoa market has affected chocolate prices in UK supermarkets

For shoppers, the effects of these rising costs are becoming increasingly apparent. For example, last year, a 110g Cadbury Mini Eggs bar was priced at £1.25 in Tesco and Morrisons. This year, the same bar costs £2.

Similarly, Sainsbury’s has reduced the size of its Mini Eggs bag from 90g to 80g while raising the price from £1.15 to £1.85 – effectively doubling the cost per gram. Some of these price surges, particularly for higher-end brands like Lindt and Ferrero Rocher, are even more severe. The table below shows the price changes for some of your favourite easter eggs and chocolates over the past few years:

Supermarket Product 202320242025
Asda Lindt Five Gold Bunny Milk Chocolate£2£3.11£3.48
Ocado Cadbury Mini Eggs Large Pouch£12.95£12.95£15
Tesco Lindt Lindor Milk Chocolate Egg£6.50 £10£10
Ferrero Rocher Golden Easter Egg£10£15£17.50
Kinder Surprise Giant Egg£10 £15£17
Thorntons Milk Chocolate Dinosaur Easter Egg£3£4.50£5

Where to find cheap chocolate

Rest assured, its not all doom and gloom; you can still find cheap chocolate deals this Easter. Below we’ve put together a list of some of the best bargains you should grab before its too late.

While rising cocoa prices might cast a shadow over this year’s Easter celebrations, the joy of Easter chocolate remains within reach for savvy shoppers. By keeping an eye on deals, you can still indulge in the season’s sweet traditions without breaking the bank.

This Easter, you could also bag yourself a free Easter egg by popping into your local branch of Howden. From family fun days to charity chocolate donation stations, there is plenty to involve yourself in this Easter. We look forward to see you.

Sources: BBC, The Guardian, Confectionary News, Which?, Financial Times

This is a marketing blog by Howden Insurance.

You could also read:

Gardening laws you could be breaking | Howden Insurance

Your guide to growing: top springtime garden tips

9 out of 10 household thefts occur in the garden | Howden Insurance

How to make the most of your garden this spring!

The UK’s happiness hotspots | Howden Insurance