Regular food shoppers will have already noticed prices edging up as the well documented cost of living crisis bites, but have you actually sat down and worked out the difference in your shopping basket? Supermarket prices are at a 13-year high with shoppers seeing regular price hikes at their local stores.
People who shop at supermarkets like Aldi, ASDA, Tesco, Morrisons, Sainsbury's or Lidl have been issued a £380 warning, according to Manchester Evening News, after it reported on the latest data suggesting that shoppers have faced a surge in price.
According to the latest data from Kantar, the average annual grocery bill is on course to rise by £380. The price rises have already altered consumer shopping habits.
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Fraser McKevitt, head of retail and consumer insight at Kantar, said sales of own-label lines have been "boosted by Aldi and Lidl's strong performances, both of whom have extensive own-label repertoires".
"We can also see consumers turning to value ranges, such as Asda Smart Price, Co-op Honest Value and Sainsbury's Imperfectly Tasty, to save money," he added. Mr McKevitt said: "The sector hasn't been in growth since April 2021 as it measures up against the record sales seen during the pandemic.
"However, these latest numbers show the market is to an extent returning to pre-Covid norms as we begin comparisons with post-lockdown times." He added: "The inflation number makes for difficult reading and shoppers will be watching budgets closely as the cost-of-living crisis takes its toll."
The research showed that supermarket sales fell by 1.9% during the twelve weeks to June 12, 2022. Tesco was the only one of the Big Four chains to increase its market share over the quarter, to 27.3% from 27.1% a year ago. Sainsbury's saw its share slip to 14.9% from 15.2%, Asda to 13.7% from 14.1% and Morrisons to 9.6% from 10.1%.
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