Sheffield news Shoppers face staggering £380 annual increase to food bills PremierLeague-News.Com
PremierLeague-News.Com - Many customers are turning to value ranges and ditching bigger brands in a bid to reign in spending
PremierLeague-News.Com - Breaking Sport Transfer News ! Brits are braced for another staggering cost of living blow after it was announced that the average annual grocery bill is set to increase by a whopping £380. It comes as food price inflation booms to a fresh 13-year high, with new figures from Kantar showing grocery price inflation jumped to 8.3% over the four weeks to June 12 – up from 7% in May and its highest level since April 2009. The unwelcome rises mean the average annual supermarket bill will rise by £380 to £4,960 in 2022. That's up by more than another £100 since April alone, Kantar said. Research suggests that many shoppers are ditching branded items and opting for cheaper own label products as they try to reign in budgets. Read more: We went to a Yorkshire market to see how much food £40 buys in a cost of living crisis Stats show that sales of branded products fell by 1% in the 12 weeks to June 12, while own-label sales rose by 2.9% and value own-label lines surged by 12%. 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. Although food bills have shot up, data showed that Britons splashed out on the Queen’s Platinum Jubilee celebrations, with supermarket sales falls paring back to 1.9% in the 12 weeks to June 12 – the best performance since October last year. Sales in the last four weeks grew by 0.4% year on year, it found, with sales during the week of the Platinum Jubilee £87 million higher than on average in 2022.
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. 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 latest report also revealed that 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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