- Hundreds of mortgage deals have been withdrawn as interest rate forecasts rise
- "Virtual" coffee is a "grim" symptom of the cost of living crisis
- Who profits from rising food prices?
- Your dilemmas:I'm paying off my dad's mortgage, how can I be officially added?
- Budget Mom:Saving for your children|Do food subscriptions save you money?|Spending money on vacation|The best broadband deals
- Live from Jess Sharp
Update: Top three articles from our business side
While we continue to bring you the latest on the cost of living, why not take a look at some of today's top business stories...
Pubs, bars and restaurants are asking the government to help them pay their energy bills after they rose by 81% last year.
The CBI board has assembled lawyers to prepare a possible bankruptcy filing ahead of thousands of members' final vote next week.
And Mars bars get a new look as they try a greener paper wrap instead of plastic.
Lurpak gains slack after reducing butter block size
Lurpak made headlines several times during the cost of living crisis – and we're doing it again.
Shoppers are complaining online after butter brand owner Arla Foods reduced the bar size by 20% from 250g to 200g, despite its notoriously high price tag.
The cheapest 200g pack of Lurpak lightly salted butter costs £1.90 (95p per 100g), according to Trolley.co.uk analysts, while the cheapest 250g pack was £2.45 (98p a pack).
The company made the same move with Anchor butter.
The answer was...
“Lurpak and Anchor are really making us work for our butter now, aren't they? First they raise prices, now they decrease. What's next, a subscription service?” wrote a Twitter user.
Arla Foods has been phasing out 250g packs since last month.
"We know the cost of living crisis has put pressure on shoppers' one-time spending and we want to make our prices more affordable for shoppers, which we believe can be achieved by reducing the size of our packaging," said Danny Micklethwaite. The company's vice president of marketing told Sky News.
He explained that the price is set by the retailers who stock the product, adding that Arla Foods works "extremely closely" with them to get the "best possible" deal for customers.
Sainsbury's cuts prices on 40 dairy products
As we said earlier, dairy products such as milk and cheese are among the food areas hardest hit in terms of price increases, with shoppers paying almost 30% more than a year ago.
Now, in what appears to be positive news for customers, Sainsbury's says it is cutting the prices of more than 40 of its own-brand dairy products by up to 60%.
Here are some of the offers available:
“With grocery inflation at an all-time high, we want to do everything we can to help our customers manage their budgets and keep prices low on the items they buy most often,” said Rhian Bartlett, specialist manager. .
Starting tomorrow, Nectar customers can enjoy additional discounts on a range of branded dairy products, including:
- Lurpak 500g - normally 5lbs now 3.75lbs
- Philadelphia 165g - normally £2.20, now £1
- Cathedral City Cheese 350g - normally £4.75 now £2.75
Asda CEO 'optimistic' UK food inflation has peaked
The Asda chairman said he "hoped" the UK had peaked in food inflation, warning that reports of food price caps being "looking backwards".
UK food price inflation stood at 15.4% in the year to May, according to data from the British Retail Consortium, down from its April high but still a significant factor in headline inflation's stubborn pace.
Speaking on Sky News, Stuart Rose said there would now be a "constant decline" in food prices in the country, despite a predicted rapid decline that has not materialized.
“All retailers are very efficient. In real terms, the cost of food, the cost of clothing, the cost of electronics has all come down over the last 20, 30, 40 years, mostly due to retailer efficiency," he said. .
His comments come after reports that supermarkets will be encouraged to introduce voluntary price caps on essentials such as milk and bread to help customers cope with the cost of living.
"Governments of every color owe us a debt of gratitude, and the recent price-fixing speculation over the last few days is, frankly, rather backward," he said.
"It reminds me of the revenue-fixing policy we used in the late 1960s."
Price and income policy is used by governments to determine price and wage growth rates in an economy, and was used in various forms throughout the 1960s and 1970s.
The policy has since been largely discredited and abandoned.
Read our full report on the story here...
New savings account 'highest interest rate we've seen in years'
Savers may be tempted by a new two-year permanent contract that has just hit the market, with the provider offering an interest rate of 5.15%.
"This is the highest rate we've seen in years," said MoneySavingExpert.
Investec by Raisinoffers a rate with interest payable on maturity and gives new customers of the online savings platform £25 when withdrawing £10,000 or more.
A minimum deposit of £1,000 is required to open an account.
This is because savers have been urged to switch accounts as they earn "miserable" returns despite a rise in the key Bank of England interest rate.
In recent months, savers have been sitting on an interest rate of only 0.1 percent, despite the fact that the Bank's base interest rate is set at 4.5 percent, according to which?.
Some account holders may be better off with dubious banks or construction companies, especially when it comes to direct access deals, the consumer group said.
Banks take many factors into account when setting interest rates, and the key Bank of England interest rate is just one of them, explains a blog on the UK Finance website.
Several providers have recently announced new savings offers, here are some of them...
First instantintroduces a fixed rate savings account with an interest rate of 4.60% AER (Annual Equivalent Rate) from today.
The offer is only available to First Direct customers with their first current account. The bank is offering £175 cash to go into your checking account, subject to conditions.
Shawbrooklaunched an annual fixed rate bond at 5.06% AER and an annual fixed rate bond Isa at 4.43% AER.
Hampshire Trust Bankoffers a two-year permanent savings account with an interest rate of 5.15% and annual or term interest. Customers need a minimum deposit of £1 to open an account.
Hundreds of mortgage deals have sparked concerns about interest rates
Currently, there are 373 fewer mortgage offers on the market than at the beginning of last weekFinancial eventsfinancial information service.
Commodities have been disappearing since last Wednesday's higher-than-expected inflation data, pushing forecasts where interest rates peak to a rise from 4.75% to 5.5% expected this fall.
Moneyfacts reports that there were 5,385 offers available last Monday - today the number is 5,012.
In recent days, these lenders have closed selected transactions: Bank of Ireland UK, Bath Building Society, Furness Building Society, Newcastle Building Society, Halifax, Hinckley & Rugby Building Society, Hodge, Kensington, LendInvest, Marsden Building, MP3Werci The Principality Building Society, Scottish Building Society and Vernon Building Society have recalled selected fixed rate mortgage products in recent days.
Meanwhile, Aldermore, Foundation Home Loans and Tipton & Coseley Building Society pulled out a whole range of fixed rates.
We're also seeing high street interest rates rising again - remember they're always higher than the bank rate (currently 4.5%) as lenders borrow for a long period and set the price according to what they expect.
The average two-year permanent deal is 5.38% today - up from 5.34% at the start of last week.
For permanent five-year contracts, it is now 5.05%, up from 5.01%.
Rachel SpringallMoneyfacts financial expert said:
“Borrowers looking for a new deal may be concerned about the latest developments in the mortgage market. This volatility stems from concerns about future interest rate hikes. It is essential that borrowers seek advice to assess their situation and find a mortgage that suits their circumstances."
Which food categories saw the biggest price increases?
Keeping up with rising food prices, we've created a chart that shows how they are ahead of inflation.
Dairy products such as milk and cheese were among the hardest hit areas, with prices rising nearly 30% in the year to April - more than triple inflation.
Our data and forensics teams took a deeper look at why food prices are rising, whether anyone is profiting, and when prices might start to fall…
Rising food prices - send us your story
The post below outlines one of the measures stores are taking to combat shoplifting - as people are being driven to desperate measures by rising food prices.
We want to hear your stories about how food inflation is affecting you.
You can share your story by emailing usmessage on whatsapp- you can also use this number to send photos of any unusual measures your local supermarket may be taking to deter shoplifters.
By sending us your video/photos/audio, you agree that we may upload, publish and edit the material and distribute it to others for similar use in any medium worldwide at no charge to you.
"Virtual" coffee is a "grim" symptom of the cost of living crisis
This tweet, which shows a "grim" symptom of rising prices, went viral on social media over the weekend.
It shows fake coffee on a shelf in a Co-op supermarket - an apparent reaction to shoplifting.
The Co-op says this is not national policy and a spokesperson told us: "Protecting the safety of our colleagues is a priority and we know that theft can be a hotspot for violence against shops so whilst it is not national policy a decision can be made to implement security measures products at the local level if a store is experiencing a specific problem.
Sky News' spending calculator shows something that every coffee drinker already knows - that prices have skyrocketed, up 13.1% last year alone.
See how many other products have been uploaded here...
We're back with another week of cost of living news, analysis and advice - after a week of major developments that could affect the length of time it takes for the UK to recover from this crisis.
On Friday, we informed about the withdrawal from the mortgage market and rising high interest rates - you can read the report here...
The reason was higher-than-expected inflation data released on Wednesday - prices rose 8.7% in the year to April. It fell into the single digits for the first time since August, but it was higher than economists had predicted, with core inflation - which removes volatile items such as energy and food prices - at a worrying 6.8%, suggesting the overall figure will be tough to break.
This has driven gold yields (the amount the government has to pay to borrow money) to levels not seen since last year's disastrous mini-budget - with interest rates expected to rise to 5.5% this fall.
One noteworthy piece of positive news came on Thursday - with the confirmation that the energy price cap would fall to £2,074, cutting bills by £436 a year for a typical household from July. However, it must be said that there will be no government help for most people now - which is why experts say households are unlikely to save much this winter.
Lurpak came into existence in October 1901 after a combination of several Danish dairy farmers decided to create and register a common brand and mark for butter to increase sales. Its logo is based on the lur, an ancient instrument once used in Scandinavia.Why is Lurpak so expensive? ›
The butter company raised the price of its products to ensure that dairy farmers get a "fair deal", according to the BBC. In a announcement, Lurpak's owner, Arla Foods, disclosed that dairy farmers have been losing money as a result of rising fertiliser and fuel prices.Is there a shortage of Lurpak? ›
The UK's largest producer of milk and butter has issued a warning that the UK is "on the edge" of a dairy shortage amidst the rising cost of butter. Arla Foods, the owner of Lurpak and Cravendale Milk, has warned that a chronic shortage of workers has forced dairy farmers to cut back on production.Who owns Lurpak butter? ›
Lurpak® is produced at the Arla Foods dairy “Holstebro Smør” in the Jutlandian town of Holstebro. Lurpak® is sold worldwide, and is often served in small flight packages onboard airplanes.Why has Lurpak butter changed? ›
The change in colour is likely to be due to the seasons/pasture that our cows graze on as this regularly effects how "Yellow" a butter can look.Is Lurpak butter real butter? ›
Lurpak® is a pale-coloured lactic butter made using the milk from our owners in Denmark. The process begins with roughly 20kg of whole milk to make every 1kg of butter. The most valuable and tasty part of the milk – the cream – is carefully “ripened” before being used for the butter making process.Does Aldi butter taste like Lurpak? ›
Nordpak - Aldi
Taste-wise, it tastes like butter, not quite as strong as Lurpak tastes, but that is not necessarily a bad thing. The savoury spread complimented the toast, rather than overpowering it, something I wouldn't have noticed about Lurpak if I hadn't tasted it first.
Lactic cultures are added, giving a fresh and slightly aromatic note with the unmistakable creaminess that creates the characteristic Lurpak® flavour. That's it. Nothing more is added, apart from a pinch of salt to our Slightly Salted varieties of butter.What tastes the closest to Lurpak? ›
If you're looking for the closest to Lurpak, then Aldi's version wins hands down. However, if you are considering switching to affordable margarine, then Clover — 60p cheaper than Aldi's version — is good value in these tough times.What is the shelf life of Lurpak? ›
Product life guaranteed for more than 3 weeks.
Leading brands of 'Butter/ Light Butter' in Great Britain based on the number of consumers are 'Lurpak' with 8,072,660 consumers, followed by 'Anchor' with 4,694,950 consumers and 'Tesco' with 4,613,680 consumers in 2021.What has happened to the price of Lurpak? ›
A 500g tub of Lurpak's Spreadable Slightly Salted has increased by £1.17 or 35% on average in this two-year period.What is the world's best butter? ›
Bordier. France's Bordier is often considered by many in the culinary world to be among the best butter brands on the market. This is because of Bordier's determination to return to traditional methods, where the butter is kneaded by hand on a wooden table instead of being processed with factory equipment.What is the difference between Norpak and Lurpak? ›
In a nutshell, the Nordpak is thicker, creamier and less salty, but the Lurpak is slightly easier to spread and more salty.Is Lurpak 100% butter? ›
Description. Blended Spread 78% (52% milk fat & 26% rapeseed oil). Genuine excellence and mouthwatering flavour don't just come out of nowhere, and Lurpak® has had an uncompromising approach to making real, quality butter since 1901.Is Lurpak healthier than butter? ›
Verdict: Still lower fat than butter and very low in saturates. High polyunsaturates make this a soft spread but these are not as good for heart health as they do not contribute to good HDL cholesterol levels.Why is Lurpak not spreadable? ›
It may be that your fridge is too cold. To ensure optimum spreadability, we recommend that you store your Lurpak butter at around 5 degrees! We hope this helps.What nationality is Lurpak butter? ›
Lurpak butter is made in Denmark from the purest Danish cow's milk.What is Aldi's equivalent to Lurpak? ›
Nordpak - Aldi
"And Nordpak also looks incredibly similar to its competitor, especially in terms of colour scheme. "Taste-wise, it tastes like butter, not quite as strong as Lurpak tastes, but that is not necessarily a bad thing.
Lurpak has scooped the coveted first prize of best butter brand at the biannual World Championship Cheese Contest. Winning in the Salted Butter Category with a best in class score of 99.8 out of 100, Lurpak beat off competition from over 30 other leading butters to take the title.
Plant-based butter made with avocado or olive oil is a healthier choice, but be aware that many companies promote “made with olive oil” spreads that contain a little bit of olive oil and mostly canola, vegetable or safflower oil.Which company butter is best? ›
- Editor's Choice. Finlandia Unsalted. This creamy, rich butter—both the unsalted and salted versions—is premium in every way, from aroma to flavor. ...
- Runner-Up. Isigny Ste Mère Unsalted. ...
- Budget Pick. Breakstone's Unsalted. ...
- Best for Baking. Land O'Lakes Unsalted. ...
- Best Salted. Kerrygold Salted. ...
- Best Cultured. Vermont Creamery Unsalted.
Unsalted Butter or “Sweet Cream Butter” (Real)
It's probably your go-to, and for good reason. Containing around 80% milkfat, this butter is the most versatile in cooking from baking to sautéing.
Verdict. If you're looking for the closest to Lurpak, then Aldi's version wins hands down. However, if you are considering switching to affordable margarine, then Clover — 60p cheaper than Aldi's version — is good value in these tough times. Wave a virtual flag for your Commonwealth Games team.Is Lurpak in a tub butter? ›
Lurpak® spreadable butter blended with vegetable oil , a blend of pure butter and vegetable oil. Spread straight from the fridge on your favourite fresh bread and top with whatever you fancy. Be inventive, see where the flavours take you.What is the Lurpak butter Man called? ›
Douglas served as the mascot in UK adverts for Danish butter brand Lurpak from 1985 to 2003. He was a small man made from butter.What is Lurpak softest? ›
Description. Blended Spread 75% (45% milk fat & 30% rapeseed oil) Lurpak® Softest is our softest spreadable. To make Lurpak® Softest, we blend Lurpak® butter, buttermilk retained from churning, & rapeseed oil. With Lurpak® Softest, mastering good food in a hurry has never been so effortlessly smooth.Which supermarket is selling Lurpak for 9? ›
Shoppers were horrified to find packets of butter had soared to £9 at online super market Ocado, while topping £7.20 at Morrisons and Sainsburys, as food prices continue to rise. Lurpak is luxury butter made by a Danish company - but Brits love it so much that we buy more of it than any other country, reports the MEN.Do you put Lurpak in the fridge? ›
Lurpak Spreadable Slightly Salted 250g. Ingredients - Butter, Rapeseed oil, Water, Lactic acid Culture, Salt. Top temperature 8°c. Storage info opened - Keep Refrigerated and use by date shown.Can you freeze Lurpak butter? ›
Allergen Advice: For allergens, including cereals containing gluten, see ingredients in uppercase. Storage Conditions: Keep refrigerated. Suitable for freezing.
Butter can be stored in the fridge for about three months, after that you might notice a change in quality and freshness. For longer storage, freeze your butter.Why is Lurpak not sold in Sweden? ›
(b) The Lurpak logo is based on an ancient musical instrument known as a "lur" but Lurpak is not sold in Sweden because the word, "lur", also means "scam" in Swedish slang.Which butter is best for toast? ›
Grab the Salted Butter
Using salted butter adds a heightened flavor experience to your buttered toast, as salt brings out the delicate nuances of real butter's richness, while mingling well with the toasty and sweet notes of toasted bread.
For baking purposes, the Test Kitchen recommends using unsalted butter so you can better control the amount of salt that goes into the recipe. Salted butter is best for serving at the table with bread or to flavor a dish, like mashed potatoes.What is a dairy free alternative to Lurpak? ›
Swap: Butter For Dairy-Free Spread
Vegan margarine is widely available and often contains less fat than its animal counterparts. Piasecka says to look out for Flora Dairy Free, Vitalite, Pure, and Naturli Organic Vegan Spreadable, which is said to taste exactly like Lurpak but healthier, cheaper and cruelty-free.
There, chefs baste the meat with Devonshire Butter, like you would a turkey on Thanksgiving day. You don't have to babysit the meat on the grill like that to take the technique to the next level, though.What butter do top chefs use? ›
Many professional chefs and bakers will recommend using unsalted butter no matter what you're making, so that you have better control over seasoning and since the salt content varies among salted butters.What brand is Costco butter? ›
Kirkland Signature Unsalted Sweet Cream Butter, 16 oz, 4-count | Costco.Where is Aldi Norpak butter made? ›
|Ingredients||Butter (55%) (𝐌𝐢𝐥𝐤), Rapeseed Oil (30%), 𝐁𝐔𝐓𝐓𝐄𝐑𝐌𝐈𝐋𝐊 (13%), Lactic Cultures, Salt (1%).|
|Manufacturer||Aldi Stores Ltd, PO Box 26, Atherstone, Warwickshire, CV9 2SQ|
|Country of origin||Denmark|
|Allergy advice||For allergens, see ingredients in bold.|
|Legal name||A Blend Of Butter And Rapeseed Oil, Slightly Salted A Blended Spread - 78% Fat (52% Milk Fat And 26% Rapeseed Oil). Spreads Straight From The Fridge|
|Maximum purchase quantity||15|
Why is lurpak white? Lurpak uses a Lactic culture as opposed to sweet cream. Lactic culture is very pale, giving Lurpak it's creamy white colour.Does Lurpak contain palm oil? ›
Made from Natural Ingredients. Lurpak butter blended with rapeseed oil. Free from palm oil.Is Lurpak butter from grass fed cows? ›
Lurpak is made of milk from non-organic Danish cows, who's diet contains a significant amount of grass products.Which butter is 100% butter? ›
Golden Cow 100% Butter.What does Lurpak mean in Danish? ›
Danish Butter/Lurpak/Butter & Dairy – igourmet.What was the Lurpak butter Man called? ›
Douglas served as the mascot in UK adverts for Danish butter brand Lurpak from 1985 to 2003. He was a small man made from butter.Is Lurpak real butter or margarine? ›
Lurpak Slightly Salted Spreadable Blend of Butter and Rapeseed Oil 750g.What country eats the most butter? ›
New Zealand had the highest per capita consumption of butter worldwide in 2022. That year, the average Canadian consumed 3.9 kilograms of butter per capita. New Zealand came in the first place at 6.17 kilograms of butter per capita in that year.Who makes Norpak butter for Aldi? ›
|Ingredients||Butter (55%) (𝐌𝐢𝐥𝐤), Rapeseed Oil (30%), 𝐁𝐔𝐓𝐓𝐄𝐑𝐌𝐈𝐋𝐊 (13%), Lactic Cultures, Salt (1%).|
|Manufacturer||Aldi Stores Ltd, PO Box 26, Atherstone, Warwickshire, CV9 2SQ|
|Country of origin||Denmark|
Rate It Lurpak Unsalted Butter
Lurpak Unsalted Butter is a clear winner in the baking department. I have used it for making cream for cakes and baking cakes. Making cream for cakes with Lurpak is a delight, they always turnout smooth.
The cows are often pasture-raised, which means that they graze on grass and live outside the confines of barns (their diet is usually supplemented with grains, which means that it is unlikely butter will be labeled as 100% grass-fed). The flavor and shape of Amish butter distinguishes it from regular U.S. butter.Can I freeze Lurpak butter? ›
Allergen Advice: For allergens, including cereals containing gluten, see ingredients in uppercase. Storage Conditions: Keep refrigerated. Suitable for freezing.What brands of butter are 100% grass fed? ›
Kerrygold is one of the best-known and best grass-fed butter brands. It's made from milk produced by cows that graze on Irish fields and primarily eat grass (5). Studies suggest that grass-fed milk is higher in certain nutrients, including anti-inflammatory omega-3 fatty acids, than milk from corn- and grain-fed cows.