UK food inflation reaches record high

UK food inflation hit 17.5 percent year-on-year in March – above the headline inflation rate of 10.4 percent and an all-time high.

According to figures published by data analytics firm Kantar, the average annual household grocery bill increased by £837 to £5,617. This rise was largely driven by eggs, milk, and cheese.

Kantar’s head of retail and consumer insight, Fraser McKevitt, explained: “Unfortunately, it’s more bad news for the British public, who are experiencing the ninth month of double-digit grocery price inflation.

“However, shoppers are taking action and clearly hunting around for the best value. Footfall was up in every single grocer this month, with households going to the shops just over four times a week in March. Apart from Christmas, that’s the highest frequency we’ve seen since the start of the pandemic.”

He added: “The supermarkets are also tackling grocery price inflation, battling it out to demonstrate value and get customers through their doors. This is a fiercely competitive sector and if people don’t like the prices in one store they will go elsewhere.”

Against this backdrop, discount supermarkets Lidl and Aldi performed well, with the latter gaining a 9.9 percent market share.

Sue Davis from consumer group Which? said: “Month after month we’ve seen a dramatic increase in food prices, but our monthly supermarket price analysis shows that some supermarkets are much cheaper than others, so it’s unsurprising that people are choosing to shop where prices tend to be the lowest.

“Supermarkets must ensure everyone has access to basic affordable food with clear unit pricing to help shoppers to compare items and find the best value option for them. Budget ranges also need to be more widely available across stores, so consumers are not forced to pay over the odds to put healthy food on the table.”

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