NFL Bills Official

Main Menu

  • Online Business
  • Online Purchase
  • Sales Channels
  • Shopping Site
  • Banking

NFL Bills Official

Header Banner

NFL Bills Official

  • Online Business
  • Online Purchase
  • Sales Channels
  • Shopping Site
  • Banking
Shopping Site
Home›Shopping Site›More than a fifth of Britons struggling as grocery price inflation hits highest level in 13 years | Cost of living crisis

More than a fifth of Britons struggling as grocery price inflation hits highest level in 13 years | Cost of living crisis

By Shawn Bennett
May 24, 2022
0
0

More than a fifth of households in Britain say they are struggling to make ends meet as the price of weekly groceries rises by 7%, the highest level of inflation in 13 years.

According to market research group Kantar, nine out of ten people say they are concerned about rising grocery prices, putting the issue second only to concerns about energy bills, as the cost of living hits families hard.

Fraser McKevitt, head of retail and consumer insights at Kantar, said: “People are really feeling the pressure at supermarket checkouts and they have to stretch their budgets further to cope with rising prices.

“To put the most recent numbers into context, if you picked up supplies for a family fry over the long weekend with toast, eggs, sausage, bacon and beans, it would cost you 6.83 £ – that’s a significant 40p increase over the last year.”

Kantar said prices were rising fastest for dog food, salty snacks and fresh beef, but the price of spirits was falling.

Despite rising prices, overall supermarket sales fell 4.4% in the three months to May 15 according to Kantar, as the reopening of bars, cafes and restaurants allowed more people to dine out rather than cooking at home.

Sales fell at all four major supermarket chains, with Morrisons the hardest hit. Sales for the Bradford-based chain fell 9.5%, taking its takeaway grocery market share to 9.5%, just half a percentage point ahead of Aldi.

Aldi and Lidl were the only chains to record higher sales as shoppers looked for ways to cut weekly spending and continued to open new stores. Lidl’s sales rose 6% and Aldi’s 5.8%, delivering both new record grocery market shares – 6.9% and 9% respectively.

McKevitt said the four-day Platinum Jubilee holiday in early June is expected to spur a spending spree at supermarkets despite the tough times.

“Looking back to the Diamond Jubilee in 2012, we saw a 10% increase in supermarket sales in the week leading up to the festivities. We should never underestimate the appetite for a party, especially a royal one,” said he declared.

Sign up for the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk

Kantar predicts a surge in barbecue food, gourmet desserts, beer, wine and soft drinks as families come together to enjoy the long weekend.

However, McKevitt said shoppers may be more wary than in 2012 as, for example, the price of a bottle of sparkling wine has risen to £7.05 from £5.20 a decade ago.

“While we all want to celebrate in style, buyers will carefully consider unnecessary spending and prices are very different from last Jubilee,” McKevitt said.

Related posts:

  1. Blaine Hy-Vee’s construction schedule is uncertain; City council approves extension | Business
  2. Showgrounds Hill Development Sale and Purchase Agreement issued
  3. ACCC Turns to Apple and Google App Stores | Narromine News
  4. Romeo IGA opens new Mirvac South Eveleigh supermarket to compete with Coles, Woolies

Recent Posts

  • Spencer Board plans to change zoning constraints on auto repair shop – Salisbury Post
  • Old Lyme shopping center goes to online auction
  • 2022 Concrete Mixer Truck Sales Market Is Growing Globally
  • Online Shopping Sites Urged to Stop Ads for Mercury-Containing Skin Whiteners
  • Focus on best business and tourism practices

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • August 2020
  • June 2020
  • December 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019

Categories

  • Banking
  • Online Business
  • Online Purchase
  • Sales Channels
  • Shopping Site
  • Terms and Conditions
  • Privacy Policy