Annual grocery bills up £380 as food prices hit a 13-year high | Personal Finance | Finance
Over the four weeks to June 12, grocery price inflation leapt to 8.3 percent – its highest level since April 2009, and up from May’s 7 percent. As a result, annual shopping bills are due to soar by £380 to £4,960 in 2022 – up another £100 since April.
Analysts Kantar found that sales of branded products fell by one percent in the 12 weeks to June 12, while own-label sales rose by 2.9 percent and value own-label lines by 12 percent.
Kantor’s Fraser McKevitt said: “The inflation number makes for difficult reading. Shoppers will be watching budgets closely.”
READ MORE: Inflation rises to 9.1 percent – Highest rate in 40 years
However, sales across the past four weeks actually grew by 0.4 percent year on year – with those on the seven days around the Queen’s Platinum Jubilee being £87million higher than the 2022 average so far.
The report shows Tesco was the only one of the Big Four chains to boost its market share over the quarter – up to 27.3 percent from 27.1 percent, with Sainsbury’s slipping to 14.9 percent from 15.2 percent.
Lidl and Aldi won customers but Asda fell to 13.7 percent from 14.1 percent and Morrisons went to 9.6 percent from 10.1 percent.
