Brits warned of huge £380 jump in grocery bills
Britons are set to see their annual grocery bills soar by £380 this year as food price inflation hits a new 13-year high, according to new figures. The latest data from Kantar revealed that food price inflation jumped to 8.3% in the four weeks to June 12, from 7% in May and its highest level since April 2009.
Soaring prices for food and groceries mean the average annual shopping bill will rise by £380 in 2022 – more than £100 extra since April alone, Kantar said. According to the research, shoppers are increasingly swapping branded items for cheaper own brand products as they seek to manage their budget.
It found that sales of branded products fell 1% in the 12 weeks to June 12, while own-brand sales rose 2.9% and own-brand ranges jumped 12%. %. Fraser McKevitt, head of retail and consumer insights at Kantar, said sales of own brand lines were “boosted by strong performances from Aldi and Lidl, both of which have an extensive repertoire own brand”.
“We may also see consumers turning to value ranges, such as Asda Smart Price, Co-op Honest Value and Sainsbury’s Imperfectly Tasty, to save money,” he added.
But, despite rising food bills, data showed Britons took part in the Queen’s Platinum Jubilee celebrations, with supermarket sales falling 1.9% in the 12 weeks to June 12 – the best performance since October last year. Sales in the past four weeks were up 0.4% year-on-year, it found, with sales in the Platinum Jubilee week of £87m above the 2022 average. .
Mr McKevitt said: “The sector has not seen growth since April 2021, as it compares to record sales during the pandemic. However, these latest figures show that the market is reverting to some extent to pre-Covid norms as we begin comparisons with post-lockdown periods.
He added: “The inflation figure makes for a tough read and buyers will be watching budgets closely as the cost of living crisis takes its toll.”