Friday, August 19, 2022

Average supermarket prices down by 9p in August

The cost of going to the supermarket dropped in August following two consecutive months of price rises, new research has revealed. 

A study conducted by shopping and comparison website mySupermarket found that the average price of a basket of 35 popular products was at £83.35, down £0.09 from July. 

However, the price for August was still higher than total basket prices recorded for the April–June period this year.

The research indicated that prices were driven down from last month because the cost of items like baked beans, crisps, cheddar cheese and fresh chicken pieces decreased by two per cent.

On the flip side, there was an increase in the cost of frozen pizza, grapes and tomatoes.

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Despite this, a full basket of 35 products is still almost four per cent – or £3.40 – cheaper than a year ago. 

Chief executive of mySupermarket, Gilad Simhony, said the retail industry‘s grocery sector still faced uncertainty in the wake of June‘s EU referendum. 

“Prices are still fluctuating quite heavily across the board and while we welcome a drop in price, we will be maintaining a close on eye on retailers‘ movements throughout the next few months,” he said. 

“It does appear that consumer confidence is stabilising so we hope to see this reflected in more consistent pricing for everyday goods. 

“Shoppers should always keep a close eye on whether their favourite grocery products are creeping up in price.”

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