On Wednesday, the RSC (Royal Society of Chemistry) proposed that Britain's cheapest meal was none other than the toast sandwich.

Bread is displayed for sale at a bakery in central London March 24, 2011. REUTERS/Toby Melville

The RSC described the toast sandwich as a healthy and affordable source of nourishment.

"You simply put a piece of dry toast between two slices of bread and butter, with salt and pepper to taste. I've tried it and it's surprisingly nice to eat and quite filling," said Dr. John Emsley of the RSC, according to the BBC.

The RSC broke down the nutritional value of the toast sandwich (given that three slices of white bread and butter are used) to 9.5 grams of protein, 12 grams of fat, 55 grams of carbohydrates and 4.5 grams of fiber. It has around 330 calories and costs around 7.5 pence or 0.12 Australian dollars.

Ingredients that could be added to make the toast sandwich more filling and to make it taste even better include eggs, sardines, cucumber, carrots and other vegetables, suggested Melissa Little, the spokeswoman for the British Dietetic Association.

The recipe for the toast sandwich can be found in the famous Victorian cook book entitled "Book of Household Management" by Mrs. Beeton, originally published in 1861.

Victorian dishes like these came about due to food shortages during World War II. At that time, food was rationed and recipes using cheaper alternatives were developed.

"Cheap eating largely revolved around loading up on carbohydrates to fill you up so you didn't need too much meat, which was much more expensive," said food historian Annie Gray, as quoted by Megan Lane of the BBC.

Due to rising food prices, British consumers have found it increasingly difficult to find meals that are both economical and good for the body.

Back in July, the BRC (British Retail Consortium) released figures showing that prices in shops had reached an all-time high since October in 2008. These included price increases for items like wheat, corn, milk, sugar, beef and pork.

British consumers have combated the increases in prices by shopping more frugally. Almost half of the shoppers now go for promotional or discounted grocery items.