UK grocery inflation has fallen to its lowest level since 2022, the latest data from Kantar shows.
It now stands at 16.5% for the four weeks to June 11, which is the lowest level for 2023 so far.
However, it is still the sixth-highest monthly figure in the past 15 years and, according to the market researcher, the price of groceries is the most significant concern for consumers after the price of energy bills.
Nearly 70% of households are either ‘extremely’ or ‘very worried’ about food and drink inflation, Kantar said.
“The ongoing squeeze is clearly weighing on the nation’s mind,” Fraser McKevitt, head of retail and consumer insight at Kantar, said.
In its latest survey of public opinions and social trends in Great Britain, the Office for National Statistics (ONS) found that an increase in the price of food shopping, at 97%, was the most commonly reported reason among adults for a rise in their cost of living.
Shortly after this was an increase in gas or electricity at 64%; an increase in the price of fuel at 39%; and an increase in rent or mortgage costs at 23%.
Grocery habits
According to its grocery inflation report published today (Tuesday, June 20), Kantar said that the recent heat has shifted consumer buying patterns.
Volume sales of ice cream and mineral water were up by 25% and 8% respectively last month.
However, prices for these items have also risen, as have barbecue items.
Fresh sausage prices have risen by 16% while fresh burgers increased by 13%. Kantar said that this shows grocery price inflation is “continuing to hurt consumers at the till”.
Further insight into general inflation in the UK will come available tomorrow (Wednesday, June 21) as the ONS publishes its next update.
