Worrying new research shows that the cost of food is rocketing upwards, with the average home set to pay almost £400 extra this year just to eat and Brits swapping to own-brand items
Households will see their yearly food shopping bills hiked by £380 this year due to the soaring price of groceries, research shows.
New figures from analysts Kantar show that grocery price inflation jumped to 8.3% over the four weeks to June 12.
That is an increase on 7% in May, and the highest level since April 2009.
The rising cost of food and groceries means the average yearly shopping bill will increase by £380 in 2022 – more than another £100 since April alone.
Shoppers are increasingly swapping branded items for cheaper own-label products as they look to manage their budgets, according to the research.
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%.
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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 the soaring cost of food, Brits did not scrimp when it came to celebrating the Queen’s Platinum Jubilee celebrations.
Kantar found that food sales during the week of the Platinum Jubilee were £87million higher than on average in 2022.
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Grocery analysts this month warned that supermarket costs could rise by 15% this summer and leave shoppers skipping meals.
The Institute of Grocery Distribution (IGD) said households are set to pay more for essentials including dairy, bread and meat as inflation is predicted to hit 11%.
It means the typical family of four could see their shopping bill rise as much as £40 per month, it warned.
But there are ways to cut down your supermarket spend. We explain seven tips to help you save cash.
Take the “downshift” challenge
Try swapping more expensive branded goods for cheaper supermarket-own labels – also known as the “downshift” challenge.
It is estimated you could save around 30%.
This means if you spend £100 each week on food, you could save £30 – over four weeks, you’ll have pocketed £120.
Stick with the cheaper brands, and your total savings over a year could add up to over £1,500.
Always look down different aisles
Don’t just stick to one aisle in the supermarket.
You can often find cheaper versions of the same products in the world foods and baby sections.
For example, previous research from MoneySavingExpert found cotton buds can be 20% cheaper in the baby aisle.
Herbs and spices can also be found for under half the price in the world food section.
Use a basket instead of a trolley
If you have a basket instead of a trolley, you can’t carry as much – therefore, you spend less.
It also means you’re more conscious about what you’re buying as you don’t have as much room.
Don’t forget your loyalty card
Loyalty schemes for the big supermarkets are free to sign up to.
They give you money back, normally in the form of points, each time you shop.
So if you’re spending money at that particular grocer anyway, it doesn’t make sense not to have a loyalty card.
Tesco now offers cheaper prices for shoppers who are signed up to its Clubcard scheme.
Avoid spending in convenience stores
Shopping at your local convenience store is more expensive than going to a big shop – so avoid them if you can.
Which? says shopping in smaller shops could be costing you an extra £300 each year.
The consumer champion said households spend up to £10.20 more each week at a Sainsbury’s Local rather than a regular Sainsbury’s supermarket.
Meanwhile, a basket of groceries from Tesco Express cost on average £279 more over 12 months.
Hunt out yellow stickers
Yellow stickers are a great way to save cash and cut down on food waste.
The exact time each supermarket starts reducing its products does vary – get familiar with your favourite store’s routine so you know when to visit.
You could even ask staff for the best time for yellow stickers.
Don’t shop on an empty stomach
If your tummy is rumbling, you’re more likely to pick up unwanted snacks that you don’t really need.
Always make sure you visit the supermarket on a full stomach if you can.
Try to shop alone as well, to avoid other people influencing your food buying decision.