UK grocery price inflation highest since 2009

Consumers in the UK are “feeling the squeeze” at the supermarket tills as the cost of living continues to increase, according to a new report from research company Kantar.

Like-for-like grocery prices have risen by 7.0% over the past four weeks compared with the same period last year — the highest level of grocery inflation since May 2009.

Shoppers are having to stretch their budgets further to accommodate rising prices, said Fraser McKevitt, Kantar’s head of retail and consumer insight.

Putting the data into context, Kantar said that the supplies for a family fry-up with toast, eggs, sausages, bacon and beans would now cost £6.83 — a 40p increase on last year.

In the 12 weeks to 15 May 2022, UK supermarket sales were down by 4.4% but sales declined more slowly over the past month with a decline of just 1.7%, the market’s best performance since Christmas as the nation looks ahead to the Platinum Jubilee.

The four-day bank holiday weekend at the beginning of June is expected to boost food and drink sales despite rising inflation levels.

Kantar noted that the Diamond Jubilee in 2012 saw a 10% boost in supermarket sales during the week leading up to the festivities, with strong sales in particular for both alcohol and soft drink.

“We should never underestimate the appetite for a party, especially a royal one,” McKevitt said.