Here is one item that hasn't seen a significant increase in prices. The price of bananas from the Birmingham and New Spitalfieds wholesale market has remained remarkably stable since 2005. There was a small speculative surge earlier this year, but more recently, it petered out.
So if you see your supermarket hiking the price of a kilo of the bananas then you know that they are pushing up their margins. Going foward, I suspect we will see retailers using growing inflationary expectations as a cover for pushing up their profit rates. This is one of the unfortunate consequences of inflation.
So, is anyone paying more for their bananas recently? If so, you are being ripped off.