I agree with all the above, but would add butter to the list. We are entering the third year of penury Chez Funkyknuckles and while many, many cutbacks have been made, skimping on butter is not an option. I have a horror of margarine (we used to be forced to use Banquet on our toast towards the end of the month in the seventies, which was a peculiarly disgusting and utterly unforgettable experience) and there's a lot of butter out there at the moment that may as well be marge for all the flavour. Ballyrashane is the best mass market butter but I am addicted to Tesco Finest Jersey butter, it's by far the best value and taste I've tried.
Actually just had a very fine dinner of wheaten farl from the home bakery at the bottom of the street generously buttered with the above, accompanied by a bottle of Wairau Cove Sauvignon Blanc and some Emmental and Pave d'Affinois past its sell by date but much better for it. Total cost of meal excluding wine, less than £2 for two people. Of which the butter cost about 20p but added immeasurably to the experience. Bread, butter, cheese and wine will make an excellent meal if the participating ingredients are great, but equally if it's awful stuff you'll think "Is this what I'm reduced to?" which is no fun at all.
So all relative - £1.50 sounds like a lot for 250g butter but if it keeps you happy all week it's an investment, right?