BUSINESS INTELLIGENCE
GROCERY PRICES
Consumers facing £454 increase in grocery bills
Consumers are now facing a huge increase in their annual grocery bills, according to new data from Kantar.
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upermarket sales rose by 0.1% in the 12 weeks to 10 July 2022, the first time the market has registered growth since April 2021, new figures from Kantar reveal. The research shows supply chain issues have driven costs up across the industry and like-for-like grocery price inflation now stands at 9.9% over the past four weeks. The data shows grocery prices continue to soar to near record-breaking heights and have jumped by another 1.6 percentage points since last month. This is the second highest level of grocery inflation since Kantar started tracking prices in this way in 2008. With grocery
price inflation at almost 10%, people are now facing a £454 increase to their annual grocery bills. Fraser McKevitt, Head of Retail and Consumer Insight, Worldpanel Division, said: “All this means that people will be feeling the pinch during our first restriction-free summer since 2019. Taking a barbecue as an example, buying burgers, halloumi and coleslaw for some al fresco dining would cost you 13%, 17% and 14% more than it would have this time last year. “Buying enough for a typical family barbecue, shoppers will have to put aside £9.94 rather than the £9.01 they
spent last year.”Supermarkets’ own lines are growing by 4.1% this period, according to the data, while sales of branded items have fallen by 2.4%. McKevitt added: “It’s a complex picture and the grocers are busy negotiating with their suppliers to mitigate impact at the tills as far as possible. We’ve seen this play out in the headlines in recent weeks, with some well-known brands temporarily disappearing from supermarket shelves over pricing disputes.” In addition, the research reveals that over the past four weeks, sales of ice cream and suncare products have soared by 14% and 66%.
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