By Joe Hoppe
U.K. grocery inflation rose to the highest level Kantar has recorded in the four weeks to Aug. 7, with shopping for the average household now set to increase by 533 pounds ($642.42) a year, a report from the data and consulting company showed Tuesday.
Average households will be exposed to a potential price increase of GBP10.25 a week for buying the same products, the report said, as like-for-like grocery price inflation reached a fresh high of 11.6% over late July to early August. Staple products like milk, butter and poultry in particular have seen some of the largest price jumps.
This is the highest level recorded since Kantar began tracking the data this way in 2008.
As shoppers try to mitigate cost inflation, own-label ranges are at record levels of popularity, with sales rising by 7.3% and holding 51.6% of the market compared with branded products, the biggest share on record.
Overall, supermarket sales were up by 2.2% over the three months ended Aug. 7, the fastest growth seen in the industry since April 2021 as it continues to bounce back from the coronavirus pandemic, the report added.
Lidl was the fastest-growing supermarket again in June, with grocery sales rising 17.9%, followed by Aldi, which was up 14.4%, the report said.
Tesco, with the largest market share, saw sales rise by 1%, it said.
Write to Joe Hoppe at firstname.lastname@example.org