Times are worrying with inflation hitting a 30-year-high of 6.2 %, worsening the UK's cost of living crisis.
While the rise in fuel and energy costs are set to soar on April 1 with the new price cap, the price of food has already risen hitting the largest hike in the last 10 years.
According to recent research, the price of popular food items like pasta has risen by 56%, adding to the struggles of Brits.
The effects of the pandemic followed by the cost of living crisis have made things worse, with Kantar predicting that food prices will be affected by the continued supply-chain disruption and conflict in Ukraine.
As inflation continues to make it harder for people to save money on bills, here's what you need to about the cost of your weekly food shop and ways to reduce your spending on it.
People had hoped there would be some relief offered for the millions of Brits potentially being plunged into poverty with sky-high energy costs, but Chancellor Rishi Sunak failed to share significant support policies for those financially struggling.
How much has the price of a weekly food shop risen?
Research from market analysts Kantar revealed that the prices of groceries have risen at their fastest rates in over eight years in February 2022.
With food price inflation hitting 4.3 % last month, the price of several items like milk, cheese and jam have increased.
Some common items like pasta have seen a price hike from 45p to 70p at supermarkets like Asda. Similarly, the price of jam has gone up by 30% from £2 to £2.60, while yoghurt now costs 15p more than the previous price of 70p.
Dairy products have also seen a hike with brie cheese costing £1.20, up by 28% from 94p and the price of milk up by 19% from 80p to 95p.
While the price of several other items like avocados and savoury snacks like Doritos have also gone up, the cost of some other products like bacon, beer, and spirits have actually fallen.
Five ways to save money when shopping for food
Here are five simple tips that can help you to reduce the cost of your weekly food shop:
Make a shopping list and stick to it
Making a shopping list not only makes your shopping trip quicker but it also means that you automatically tend to stick to the aisles with items you need, rather than roaming through the store aimlessly and giving into temptations.
The list also means you'll have thought about exactly what you need for the week, avoiding last-minute takeaways or extra shopping trips to pick up something you forgot, both of which will end up being expensive.
Don't get carried away by deals
Supermarket deals are great, but what happens is that you end up buying more than you need or things you don't even need - neither of which are helping you save money
Of course, you can use deals and special offers to save money. However, you should take a moment to think about whether you actually need those items and if you'll end up using the extra items before they go out of use. Also, consider if you can get these items for a cheaper price somewhere else.
Compare prices
We all have our favourite brands, but don't be stubborn about sticking to them. When you're in a cost crunch, it's better shop around and find cheaper supermarket alternatives that may look different but often taste exactly the same.
Before you switch brands, do consider if the shop you frequent is closer and if there are other advantages. For instance, a cheaper supermarket that might need to spend extra on petrol to get there, may not be worth it.
Freeze your leftovers
Don't leave regular food items lying around until they go off and you have to throw them away. This is a waste not just of the food but of money as well.
Keep an eye on the expiration dates and freezing any leftovers from these items before they go bad could end up saving you £720 a year, according to Love Food Hate Waste.
Look out for the best bargains
The reduced price yellow stickers could be a life saver. The time at which you head to the supermarket matter when it comes to grabbing the best bargains.
Optimal items are as follows:
- M&S – One hour before they close
- Morrisons – 6pm
- Sainsbury’s – 6pm
- Asda – 7pm
- Waitrose – 6pm
As a general rule, going to the supermarket an hour before closing will offer you the lowest prices and best bargains.
