Shoppers have witnessed an 11.6% surge in grocery prices for the past month, the highest level since 2008, according to new figures.
Research firm Kantar has said this equates to a £533 annual increase in the average household’s grocery bill.
As a result, it reported that sales of own-label value products increased by almost a fifth – 19.7% – as shoppers sought to make savings.
Fraser McKevitt, head of retail and consumer insight at Kantar, said: “As predicted, we’ve now hit a new peak in grocery price inflation, with products like butter, milk and poultry in particular seeing some of the biggest jumps.
“This rise means that the average annual shop is set to increase by a staggering £533, or £10.25 every week, if consumers buy the same products as they did last year.
“It’s not surprising that we’re seeing shoppers make lifestyle changes to deal with the extra demands on their household budgets.”
