Chocolate shock

10:21 05 October 2010

The top chocolate brands have announced that they are upping the price of their confectionery by at least seven per cent.

Cadbury and Nestl have both said they plan to raise the price of their most popular bars, including Cadbury Dairy Milk and Milky Bar.

A recent survey found that the price of chocolate bars has risen by around 30% over the past three years, due to the heightened cost of cocoa.

The main ingredient in chocolate has reached a 10-year high whilst sugar has also become more expensive.

Shoppers will find that they will also be getting less for their money, with the size of bars going down by an average of 20g.

Experts say that chocolate will now be viewed as something of a luxury item, with families in particular expected the bear the brunt of the hike.