The price of food and groceries is 5.2% higher than it was 12 months ago, with prices set to to keep rising. So what goods are surging the most? We take a look
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The cost of groceries is now 5.2% higher than it was a year ago, and the speed of this rise is the highest in nearly a decade.
The price of groceries is going up for several reasons, including high petrol costs and supply chain issues worsened by the Russian war on Ukraine.
The major price rises mean more shoppers are picking cheaper products and supermarket own-brand labels.
Brits are also making fewer trips to stores to save on petrol costs, analysts Kantar said.
Prices are rising fastest for goods like savoury snacks, dog food and cat food.
Kantar head of retail and consumer insight Fraser McKevitt said: “More and more we’re going to see consumers and retailers take action to manage the growing cost of grocery baskets.
“Consumers are increasingly turning to own-label products, which are usually cheaper than branded alternatives.”
Discounters Aldi and Lidl remained the fastest-growing supermarkets during the period, with both seeing sales up 3.6% over the 12 weeks compared with a year ago.
10 items rising the fastest
- Oils and fats – 9.2%
- Coffee, tea and cocoa – 4.6%
- Fruit – 4.5%
- Milk, cheese and eggs – 3.4%
- Wine – 3.3%
- Sugar, jam, chocolate and sweets – 2.9%
- Mineral water, soft drinks and juices – 2.8%
- Vegetables – 2.7%
- Spirits – 2.6%
- Beer – 2%
(Source: Office for National Statistics)
The supermarket said Just Essentials would be the “largest budget-friendly essentials range in the market” and will help millions of families fight rising living costs.
The supermarket’s cheapest range is currently Smart Price , with around 150 items.
How to save money on food costs
Here are five simple tips that can help you to reduce the cost of your weekly food shop:
Make a shopping list and stick to it
Making a shopping list not only makes your shopping trip quicker but it also means that you automatically tend to stick to the aisles with items you need, rather than roaming through the store aimlessly and giving into temptations.
The list also means you’ll have thought about exactly what you need for the week, avoiding last-minute takeaways or extra shopping trips to pick up something you forgot, both of which will end up being expensive.
Don’t get carried away by deals
Supermarket deals are great, but what happens is that you end up buying more than you need or things you don’t even need – neither of which are helping you save money
Of course, you can use deals and special offers to save money. However, you should take a moment to think about whether you actually need those items and if you’ll end up using the extra items before they go out of use. Also, consider if you can get these items for a cheaper price somewhere else.
We all have our favourite brands, but don’t be stubborn about sticking to them. When you’re in a cost crunch, it’s better shop around and find cheaper supermarket alternatives that may look different but often taste exactly the same.
Before you switch brands, do consider if the shop you frequent is closer and if there are other advantages. For instance, a cheaper supermarket that might need to spend extra on petrol to get there, may not be worth it.
We put some brands to the test – see which passed and failed the test, here.
Freeze your leftovers
Don’t leave regular food items lying around until they go off and you have to throw them away. This is a waste not just of the food but of money as well.
Keep an eye on the expiration dates and freezing any leftovers from these items before they go bad could end up saving you £720 a year, according to Love Food Hate Waste.