Over one third (38%) of shoppers are buying ‘yellow sticker’ food nearing the end of its shelf life in a bid to save money during the cost of living crisis.
According to Barclays, 89% of shoppers are concerned about the impact of rising prices as food inflation hit a new record high last month. Food food prices rose by 15.7% compared to last year, prompting shoppers to downshift from premium ranges to standard or value ranges and switch from fresh food to frozen.
Supermarkets have faced heavy criticism over the last few months as the cost of food has skyrocketed. According to Grant Fitzner, chief economist for the Office of National Statistics (ONS), food prices overall are on the way down over the next few months but the drop had not yet reached supermarket shelves.
