Britons are set to see their annual grocery bills jump by £380 this year as food price inflation hits a fresh 13-year high, according to new figures. The latest data from Kantar has revealed that grocery price inflation jumped to 8.3% over the four weeks to June 12 – up from 7% in May and its highest level since April 2009.
The soaring increases in the cost of food and groceries means the average annual shopping bill will increase by £380 in 2022 – more than another £100 since April alone, Kantar said. Shoppers are increasingly swapping branded items for cheaper own-label products as they look to manage their budgets, according to the research.
It found that sales of branded products fell by 1% in the 12 weeks to June 12, while own-label sales rose by 2.9% and value own-label lines surged by 12%. Fraser McKevitt, head of retail and consumer insight at Kantar, said sales of own-label lines have been “boosted by Aldi and Lidl’s strong performances, both of whom have extensive own-label repertoires”.
