Food for thought: applying house price inflation to grocery prices

By: Tristan Carlyon  Published: February 2013


This paper looks at the inflation in house prices from 1971 to 2011 and applies it to the cost of everyday groceries, in order to emphasise how out of control house prices are.

Summary

If grocery prices had increased at the same rate as house prices since 1971, then:

  • A 4-pint carton of milk would cost £10.45
  • A chicken would cost £51.18
  • A bunch of 6 bananas would cost £8.47
  • A box of 6 eggs would cost £5.01
  • A loaf of sliced white bread would cost £4.36
  • A leg of lamb would cost £53.18
  • The average weekly expenditure on food for a family of four would be £453.23.

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