The 16% rise could see you spend an extra £788 a year on food shopping
New figures show grocery price inflation has hit a record 16.7%, to add a potential £788 to annual shopping bills.
The “staggering” 2.3 percentage point jump in the four weeks to January 22 has exceeded the previous high, recorded by analysts Kantar in October and is the highest figure since their records began in 2008.
Intense competition among grocers striving to retain customers saw them boosting their own-label ranges, with sales of these growing by 9.3% in January – well ahead of branded alternatives, which were up by just 1%.
Despite price rises, consumers appear to have maintained New Year’s resolutions and a commitment to Dry January, with sales volumes of no and low alcohol beer up 3% on last year.
Overall take-home grocery sales rose by 5.7% during the four-week…
