UK supermarket inflation hits record high, making shoppers hunt for bargains
Supermarket price inflation in the UK has hit another record high, adding £837 to annual household bills, as shoppers increasingly turn to multiple supermarkets to hunt for bargains.
Price increases for groceries hit an all-time high of 17.5% in the four weeks to 19 March compared with a year earlier, according to the latest figures from the data firm Kantar. The prices of eggs, milk and cheese are rising at the fastest pace. The latest price rises mean an average annual household bill for groceries is £5,617, Kantar said.
Consumers are choosing to shop around to get the best deals, visiting three or more of the top 10 food retailers each month.
“Unfortunately, it’s more bad news for the British public, who are experiencing the ninth month of double-digit grocery price inflation,” saidFraser McKevitt, the head of retail and consumer insight at Kantar.
“However, shoppers are taking action and clearly hunting around for the best value. Footfall was up in every single grocer this month, with households going to the shops just over four times a week in March. Apart from Christmas, that’s the highest frequency we’ve seen since the start of the pandemic.” “The supermarkets are also tackling grocery price inflation, battling it out to demonstrate value and get customers through their doors. This is a fiercely competitive sector and if people don’t like the prices in one store they will go elsewhere.”
Overall, grocery sales grew by 8.6% in the 12 weeks to 19 March.
The amounts of tomatoes, peppers and cucumbers bought at independent shops rose 32%, 26% and 21% respectively last month, amid concerns about product shortages caused by high energy prices, Brexit and the climate crisis. Some supermarkets including Asda and Morrisons
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