How fast is the price of Vegemite going up?
Does inflation mean we're no longer such happy little Vegemites? I crunched the numbers (and the toast, natch).
We all know food prices are rising. But just how much have they changed since the double whammy of the pandemic and inflationary woes sent our supermarket bills into overdrive?
I plundered my archives of Vegemite supermarket pricing data to find out.
Why Vegemite? It's Australian, it's iconic, and it's a brand name people are happy to pay for. And yes, I'm slightly obsessed with it.
Vintage advertising often promoted the health benefits of Vegemite. Image: AWW/Kraft/Trove/Supplied
More importantly, Vegemite is a product which our biggest supermarket chains Coles, Woolworths and ALDI all flog. (For many products, ALDI only sells its own store brands.)
So just how much more are we paying for Vegemite in 2017 than we were in 2023? Did the change of ownership from Kraft to Bega in 2017 make a long-term difference? Let's find out.
Comparing Vegemite pricing at ALDI, Coles and Woolworths
There are many varieties of Vegemite available: regular, low-salt, gluten-free, squeezy, cheesy. To keep things simple, I'm just looking here at the classic original Vegemite spread.
Even then, quantity becomes an issue. Every major Australian supermarket chain sells at least one size of Vegemite that isn't offered by its rivals.
Vegemite 280 grams is only sold at Woolworths. Image: Angus Kidman/Finder
However, there are 3 sizes of Vegemite which Coles and Woolworths both sell: 150 grams, 380 grams and 560 grams.
As you'd expect, the bigger jars have the cheapest unit price (cost per 100 grams).
So let's start with how much a 560 gram jar of Vegemite cost at both Coles and Woolworths in 2017, 2020 and 2023.
Coles/Woolworths 560g Vegemite pricing compared
| Year | Price |
|---|---|
| 2017 price | $8.00 |
| 2017 unit price | $1.43 |
| 2020 price | $8.00 |
| 2020 unit price | $1.43 |
| 2023 price | $9.00 |
| 2023 unit price | $1.61 |
The lesson? Prices didn't change at all between 2017 and 2020, but between 2020 and 2023 Vegemite prices went up by 12.5%.
That sounds a lot. But it's actually a bit less than longer-term inflation would suggest.
The Reserve Bank of Australia's inflation calculator says that an $8 purchase in 2017 would cost $9.16 at the end of 2022. So that $9 price tag could be worse.
ALDI only sells a single size of Vegemite. Image: Angus Kidman/Finder
But what about ALDI, I hear you cry? ALDI has only ever sold a single size of Vegemite (and that size is never available anywhere else).
In 2017 and 2020, this was 455 grams, but now ALDI sells a 370 gram jar for $6.49. So for comparison purposes, let's look at the unit price.
ALDI Vegemite unit pricing compared
| Year | Price |
|---|---|
| 2017 unit price | $1.54 |
| 2020 unit price | $1.43 |
| 2023 unit price | $1.75 |
This somewhat belies ALDI's reputation for low prices. Its 2017 unit price ($1.54) was higher than Coles and Woolworths ($1.43). In 2020, it price matched. But in 2023, its unit price ($1.75) is slightly higher than the best option available at Coles and Woolworths ($1.61).
Of course, that 370 gram ALDI size is almost identical to the 380 gram jar that Coles and Woolworths have both sold for years. How has that one changed over time?
Coles/Woolworths 380g Vegemite pricing compared
| Year | Price |
|---|---|
| 2017 price | $6.00 |
| 2017 unit price | $1.58 |
| 2020 price | $6.50 |
| 2020 unit price | $1.71 |
| 2023 price | $7.00 |
| 2023 unit price | $1.84 |
This size has seen a steady increase over the years. The 2023 unit price ($1.84) is higher than the near-equivalent ALDI jar ($1.75). Either way, you're better off with the 560 gram jar.
2023 Vegemite unit pricing compared
| Product | Unit price |
|---|---|
| Vegemite 560g | $1.61 |
| Vegemite 380g | $1.84 |
| Vegemite 370g | $1.75 |
| Vegemite Squeezy 350g | $2.00 |
| Vegemite 280g | $2.11 |
| Vegemite 220g | $2.14 |
| Vegemite Squeezy 200g | $2.00 |
| Vegemite 150g | $2.53 |
The most expensive way to buy Vegemite in a supermarket right now? The 150 gram jar, which has a unit price of $2.53. Go large!
Small jars of Vegemite are the worst value. Image: Finder
What's the cheapest way to buy Vegemite at a supermarket?
The basic rule for buying Vegemite cheaply hasn't ever changed: buy the biggest jar available at your supermarket. Here are some additional tips:
- Watch out for specials. Last week, Woolworths dropped the price of a 380 gram jar from $7 to $5.60. Coles has the same special this week. That's a unit price of $1.47, which beats the usually-cheaper 560 gram option.
- Check for price matching. Amazon generally matches Coles and Woolworths whenever they run a Vegemite special. If you already have Prime membership, you can get bargain Vegemite delivered for free.
- Prices do sometimes drop. This year, Coles cut the cost of a 200g Squeezy tube from $4.50 to $4.00, and Woolworths dropped the price of its 280 gram jar from $6.40 to $5.90. But in both cases, the 560 gram jar is still a cheaper option overall.
Surprisingly, Cheesybite pricing has stayed the same. Image: Angus Kidman/Finder
A final surprising note. The one Vegemite variant that really hasn't gone up in price is the much-maligned Vegemite Cheesybite (infamously known briefly as iSnack 2.0).
A 270 gram jar of Cheesybite cost $5.10 in 2017, $5.15 in 2020, and is still $5.15 right now. I'll still be sticking with the regular variety though.
Check out Finder's 2023 Cost of living report to learn more about how inflation is impacting Australians. Get more helpful money tips to help you save.
