In the latest research published by Kantar, they report grocery price inflation of 12.4% during the past month – a new record according to Kantar data. The yearly average net grocery bill is expected to rise from £4,610 to £5,181.
Supermarkets are reacting to the cost of living crisis by expanding their own-label ranges. These product ranges offer cheaper alternatives to branded goods. Sales of own-label are up by 33% this period versus a year ago.
The rise of discounters has also led to Aldi UK overtaking Morrisons and breaking into the top four for the first time. Tesco remains the market leader with a 26.9% market share – Tesco, Sainsbury's and Asda all achieving their best sales performance since April 2021.