Thursday, August 18, 2022

Post-Brexit grocery prices on the rise despite optimism

The average cost of a grocery shop has risen by one per cent for the second consecutive month despite the big four‘s efforts to lower prices post Brexit.

Although Morrison‘s have attempted to quash Brexit fears of rising prices by pledging to lower the cost of over 1000 items, subsequently sparking a price war within the big four, research has shown that prices of an average food shop are on the rise.

RELATED: Morrisons cuts prices by average of 18% to boost post-Brexit confidence

The shopping comparison website has conducted research which shows that a 35 item basket of popular products now has risen by one per cent in July to £83.44.

A sharp rise in the price of common items is thought to be responsible for the rise of an overall shop. Pasta has risen by 10 per cent, onions by nine per cent and peppers and pasta sauces went up by six per cent.

‘‘It looks like we are entering a period of intense uncertainty in the grocery sector and this is likely to result in the extreme fluctuation of pricing for popular everyday products. Supermarkets are working in uncharted territory and are trying everything to lure shoppers whilst navigating themselves through what could be a time of prolonged instability” mySupermarket‘s CEO Gilad Simhony said.

‘‘Shoppers should keep a close eye on whether their favourite grocery products are creeping up in price as the difference across supermarkets can have a big impact on their wallets over a longer period of time.‘‘

Compared to this time last year however, the average price of buying the 35 most commonly purchased items is still 2.5 per cent cheaper. 

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