“The most prominent change we’ve seen is that people are preparing simpler dishes with fewer ingredients.” McKevitt added: “People are thinking more and more about what they eat and how they cook as the cost of living crisis takes its toll on traditional behaviours. It remains the second-biggest concern behind rising energy bills.Ĭonsumers have been switching to supermarkets’ cheaper own-label lines to save money, where sales are up 41% compared with last year, and changing how they eat and cook, Kantar said. “But prices rising at 16.5% isn’t something to celebrate… Price rises are now being compared to the increasing rate of grocery inflation seen last summer, which means that it should continue to fall in the coming months, a welcome result for everyone.”Ī survey for Kantar found that of consumers’ top five financial worries, rising grocery prices is the only one that they are more concerned about now than at the start of the year.Īlmost 70% of households are either “extremely” or “very worried” about food and drink inflation, compared with just over two-thirds in January. McKevitt said: “This is the lowest rate of grocery price inflation we’ve seen in 2023, which will be a relief to shoppers and retailers. Rishi Sunak’s pledge to halve inflation this year is at risk from stubbornly high food inflation, which has kept the headline rate at a higher than expected level. The Kantar figures were released a day before the official UK data on inflation, which is expected to ease to 8.4% in May from 8.7% in April, when food and drink prices rose at an annual rate of 19.1%. “But, with retailers eager to offer value and cash buying less popular, £1.25 has emerged as an increasingly important price point.” The biggest price rises were for eggs, cooking sauces and frozen potato products.įraser McKevitt, the head of retail and consumer insight at Kantar, said: “Traditionally, ‘round-pound’ prices have been attractive to shoppers, who find them easier to relate to and practical as well with no leftover change. ![]() It remains at its sixth-highest level since the financial crisis in 2008. Grocery inflation has eased to its lowest level this year but remains high, Kantar said on Tuesday.Īnnual grocery inflation in the UK declined to 16.5% in the four weeks to 11 June, down from 17.2% last month and a record 17.5% in March. Supermarkets typically use “round-pound” deals to sell budget items, but have been forced to raise prices.
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