The price of groceries in Irish supermarkets has skyrocketed by more than 16% in the last year, research shows.
The study also found that hard-hit consumers were forking out an additional €113.56 on their food shop now compared with the same period last year.
Data released by Kantar yesterday shows grocery price inflation had hit 16.4% - the highest ever.
READ NEXT: Teen chicken farmer flabbergasted as hen lays Ireland's largest egg - 'I've never seen one so big'
The retail analysts examined the 12 weeks leading up to February 19, 2023, with the year previous.
Senior Retail Analyst Emer Healy said: “This growth in sales is largely down to grocery price inflation hitting 16.4%, a new record high.
“This time last year it was 2.4% so a significant 14% increase within 12 months. In a year of rising costs and sky-high inflation, Irish consumers are looking for ways to manage their household budgets.
“This has led to the Irish grocery market becoming more competitive than ever, with shoppers looking for the best deals among the retailers.”
Ms. Healy also explained that shoppers have been battling fruit and vegetable shortages in fruit and vegetables in recent weeks and said this has led to the price shooting up.
She added: “Consumers spent €2.3 million more on vegetables year-on-year, however, volumes declined by 9.5%.
“Volumes of cucumbers and tomatoes fell significantly by 17.2% and 8.9% respectively year-on-year, with these two products most impacted by shortages.”
It comes as own-brand products by supermarkets have also exploded in popularity and shot up by 35.8% year on year as consumers look for ways to save money at the checkout - with shoppers spending €19 million on these ranges.
Shoppers are also spending an additional €8 million online now compared with the same period in 2022.
The most popular supermarket for Irish consumers is Dunnes which holds 23.6% of the market share and grew by 12.3% year on year.
Tesco comes in second and SuperValu is in third. But shoppers who buy their groceries from Supervalu tend to visit the store more frequently.
Budget supermarkets Lidl had 12.6% of the market share while Aldi had 11.7%.
Ms. Healy also revealed the cost-of-living crisis has impacted how people celebrate holidays such as Valentine’s Day and Pancake Tuesday.
She explained that lovers this February appeared to spend Valentine’s Day at home as it fell on a Tuesday and revealed an additional €1.2 million on wine, €1.5 million on chilled desserts, and €3.8 million on chilled ready meals compared with other years.
Chocolate was also a big hit with shoppers forking out an additional €326,000 but the sale of Easter Eggs is down by 29% despite it being just over a month away.
Kantar also revealed value sales increased by 10.2%, compared to 5% in
January, with sky-high levels of inflation, blamed rather than more consumption.
They also noted that In the three months to February 19, 2023, take-home grocery sales increased by 8.5%, with shoppers returning to the store more often and contributing an additional €168.7m to the market’s overall performance.
READ NEXT:
Ireland weather: 'Messy week' ahead with heavy snowfall confirmed and warnings in effect
Taoiseach Leo Varadkar tells RTE Prime Time further energy credit possible this year
Mystery solved as three bodies found in search for five people missing after night out
Katie Taylor sends Eddie Hearn public ultimatum over Dublin fight
Woman left with a 'myriad of complications' after travelling to Turkey for weight loss surgery
Get breaking news to your inbox by signing up to our newsletter
