UK's supermarket price inflation has reached a new record high, pushing average annual household expenses to £837 as consumers increasingly browse at several shops in search of the best deals.
Year-on-year price increases for groceries hit an all-time high of 17.5% in the four weeks to 19 March compared with a year earlier, according to the latest figures from the data firm Kantar. The prices of eggs, milk and cheese are rising at the fastest pace. The latest price rises mean an average annual household bill for groceries is £5,617, Kantar said.
Fraser McKevitt, head of retail and consumer insight at Kantar, said, "Unfortunately, it's more bad news for the British public, who are facing the ninth month of double-digit food price increases.
“However, shoppers are taking action and clearly hunting around for the best value. Footfall was up in every single grocer this month, with households going to the shops just over four times a week in March. Apart from Christmas, that’s the highest frequency we’ve seen since the start of the pandemic” he added.