How a chocolate frog affects how we feel about money

Inflation is the official measure of how fast prices are rising and the one that makes the headlines each month. But it’s not the only measure of how the cost of living is going up - a fact the prime minister has just acknowledged.

In a new social media video, Andy Burnham described the Cadbury’s Freddo as “the most talked about cost-of-living symbol in the UK”.

And we think he’s got a point.

Freddos sum up our weakening spending power

The ONS tracks inflation by looking at the prices of items in an imaginary shopping basket each month and working out how much the total price has changed.

But you can come to pretty much the same conclusion by just looking at the price of a Freddo and how it’s shot up in the last few years.

A Freddo cost just 10p between 1994 and 2005, but it then gradually started creeping up, and today, a Freddo costs a staggering 35p.

In other words, the cost of a Freddo has more than trebled in the last 20 years.

And that’s well ahead of average wage growth in the same period.

10p Freddos live long in the memory

We notice this in the shops because when we started being given pocket money as kids, the first thing we probably did was work out how many treats we could get with it.

So if you’re of a certain age, you’ll remember being able to buy 10 Freddos for just a quid.

But if you buy the same number today, you’ll be forking out £3.50.

For many people, that increase is symbolic of a much wider trend.

Everything seems to be getting more expensive these days and our money doesn’t stretch as far as it used to.

And if you want to see that in stark clarity, you don’t need to understand complex financial jargon, concepts or official statistics.

You just need to look at a nostalgic childhood treat in the shops.

How to get the best deal on chocolate in the shops

Individual Freddos haven’t - yet - fallen victim to shrinkflation, where your favourite snacks are getting smaller over time, but the price stays the same.

So it's not all bad news.

But Freddos multipacks have been reduced from five bars to four, so if you’re in the market for a chocolatey treat, it’s still worth looking beyond the price to make sure you’re getting a good deal.

Check price per 100g/ml

Supermarkets list the price per 100g/ml on shelf labels, so you can compare by weight or volume - not just pack size - and see which item offers you the best value.

Try supermarket own brands

Supermarket alternatives often give you more for your money, without compromising on quality.

Use price comparison apps

Apps like Trolley or LatestDeals can show where to find the best deals on your favourite sweet treats.

Chocolate frog or boiling frog?

Are you familiar with the “boiling frog” analogy - the idea that if something changes gradually enough, you may not notice it happening until it’s too late?

Well, weirdly enough, it’s a humble chocolate frog that really demonstrates this idea.

Just a few small price increases here and there can soon add up.

And when a little treat now costs more than three times as much as it used to, it really brings home just how much everyday prices have gone up.