Annual grocery bills will jump by £380 this year as food price inflation hits 13-year-high of 8.3% amid cost-of-living crisis
Food inflation will hit a 13-year high and cause Britons’ annual grocery bills to jump by £380 this year, a new data has suggested.
The latest statistics from analytics company Kantar showed 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.
These 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%.
Cost of living crisis is to be hit hard by food inflation said data analysts today in alarming news
It is expected to cause Britons’ annual grocery bills to jump by £380 this year, pictured Tesco
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’.
‘We can 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, the data showed that Britons splashed out on the Queen’s Platinum Jubilee celebrations, with supermarket sales falls paring back to 1.9% in the 12 weeks to June 12 – the best performance since October last year.
Sales in the last four weeks grew by 0.4% year on year, it found, with sales during the week of the Platinum Jubilee £87 million higher than on average in 2022.
Analysis of Trolley.co.uk data by MailOnline shows how the average cost of a 20 item shopping basket across all supermarkets is now £3 more expensive than it was in May last year – a rise of 6.45 per cent. Pictured: A graphic showing how individual items in the 20 item basket have increased. The costs are based on average costs of an item across a number of supermarkets and include larger packs and more expensive brands – bringing up the average cost. Pictures are for illustrative purposes and not the actual cost of those items
Britons looking to cut back on their food bills amid the cost of living crisis are being hit with bigger price rises in discount chains than in their supermarket rivals, according to new data
How the average cost of a 20 item supermarket basket has increased in the past 12 months
Price in May 2021: £56.99
Price in May 2022: £60.53
Increase: £3.54 – Percentage increase: 6.2%
Price in May 2021: £62.67
Price in May 2022: £66.24
Increase: £3.57 – Percentage increase: 5.7%
Price in May 2021: £62.94
Price in May 2022: £64.69
Increase: £1.21 – Percentage increase 2.8%
Morrisons: Price in May 2021: £59.14
Price in May 2022: £62.10
Increase: £2.96 – Percentage increase: 5%
Co-Op: Price in May 2021: £62.34
Price in May 2022: £62.36
Increase: £0.02 – Percentage increase: >0.01%
*Figures are based on Trolley.co.uk’s Grocery Price Index data for the last 12 months and include 20 items selected by MailOnline, including bread, butter, eggs and milk – among other products. Aldi, Iceland and Waitrose could not be included in this analysis as a full list of products was not available at the time of publication. Lidl data is not available on Trolley.co.uk.
Mr McKevitt said: ‘The sector hasn’t been in growth since April 2021 as it measures up against the record sales seen during the pandemic.
‘However, these latest numbers show the market is to an extent returning to pre-Covid norms as we begin comparisons with post-lockdown times.’
He added: ‘The inflation number makes for difficult reading and shoppers will be watching budgets closely as the cost-of-living crisis takes its toll.’
MailOnline revealed in May people looking to cut back on their food bills amid the cost of living crisis were being hit with bigger price rises in discount chains than in their supermarket rivals, according to new data.
An average item now costs 31p more than it did 12 months ago in Iceland – a rise of 11 per cent – while Aldi prices have risen by 19p on average – a rise of 9.6 per cent.
The figures, from Trolley.co.uk’s Grocery Price Index, also show how three of the ‘Big Four’ supermarkets, Asda, Tesco and Morrisons, have kept average price rises down to around 3 per cent.
Sainsbury’s saw the smallest increase in the average cost of an item of the major supermarkets, with prices rising by 4p – a rise of 1.1 per cent – while Co-Op saw the smallest increase of 0.3 per cent.
Waitrose saw one of the largest monetary increases, with an average 22p rise per item over the last 12 months. However this represented a 4.4 per cent rise, due to Waitrose having a slightly higher price per item to begin with.
It comes as separate analysis by MailOnline shows how the average cost of a 20 item shopping basket is now £3 more than it was in May last year.
Perhaps even more worryingly, is that it is key staples including milk, butter and spaghetti that have seen some the biggest rises – with the popular pasta seeing an average 17 per cent rise in cost in the last 12 months.
Meanwhile, Tesco now has the most expensive 20 item basket of the UK’s big four supermarkets, coming in at £66.24 – up from £62.67 in May last year.