BREAKING NEWS Coles and Woolworths staple set to see a major price increase

A popular kitchen staple sold at Coles and Woolworths is about to get more expensive, with wholesale paprika prices rising by as much as 30 per cent. 

Ian Hemphill, Managing Director of Australian spice company Herbies Spices, said the price hike is largely due to economic challenges in Hungary, where most of the capsicums used to make the spice are grown. 

Increased costs for labour, fertilisers, and transportation also influenced paprika prices, Mr Hemphill told Nine.

Producers facing higher exdpenses tend to pass these costs onto buyers, further increasing the price per kilogram.

So far we have only seen an increase in the prices for high-quality Hungarian sweet paprika, although paprika from China and Spain has only increased in cost by a much smaller margin. 

Paprika is a staple spice used to season meats, stews, and roasted vegetables, known for its mild, sweet, and smoky flavour. 

Its also a key ingredient in the famous seasoning blend used in KFCs Original Recipe chicken.

A popular kitchen staple sold at Coles and Woolworths is about to get more expensive, with wholesale paprika prices rising by as much as 30 per cent.

Paprika is a staple spice used to season meats, stews, and roasted vegetables, known for its mild, sweet, and smoky flavour.

How to save money on groceries as prices rise?

Visiting more than one supermarket has proven to be the smartest approach for shoppers, as data shows prices for everyday essentials continue to vary widely.

Data from consumer advocacy group Choice found that, even without specials, prices differed across the big four supermarkets, with Aldi emerging as the best for overall value.

Choice sent mystery shoppers to 104 supermarkets across Australia in March to compare the prices of 14 common grocery items.

The items included popular winter buys such as vegetable stock, sour cream, drinking chocolate, butternut pumpkin, quick oats, garlic, and onions.

Choice says the products were matched as closely as possible based on pack size, ingredients, and country of origin.

The data showed Aldi offered the most value, with the full basket of products costing just $55.35.

Woolworths was not far behind at $58.92, while the Coles basket without specials came in at $59.22.

The most expensive shop was IGA at $69.74, although it did prove cheapest for carrots and garlic.

The commission said Coles, Woolworths and Aldi faced little competition and had increased average product margins over the past five years, but stopped short of accusing them of price gouging

Without specials, Coles had the best deal on apples, while Woolworths had the cheapest chicken breasts and pumpkin.

All up, if youre planning a hearty porridge breakfast, or wanting a cup of hot chocolate to keep you feeling snug, Aldi should be your first stop, Choice chief executive Ashley de Silva said.

But, as always, there are lots of other ways to save on your weekly grocery shop. Checking the unit pricing, keeping an eye on specials, shopping around, and trying out house brand products can all add up to significant savings.

The cost comparison comes just months after the Australian Competition and Consumer Commission released its final report into supermarkets, finding major chains had little incentive to be competitive on pricing due to their large market share.

The commission said Coles, Woolworths and Aldi faced little competition and had increased average product margins over the past five years, but stopped short of accusing them of price gouging.

Aldi holds a market share of approximately 9.5 per cent, making it the third-largest supermarket chain in the nation, behind Woolworths at 37.1 per cent and Coles at 27.9 per cent.

The smallest of the four major supermarkets, IGA, holds a 6.9 per cent share of the market.