// Grocery price inflation hits a record 17.1%
// Kantar said the rationing introduced by some supermarkets amid shortages were unlikely to affect consumers as they usually bought fresh items in smaller quantities
Grocery price inflation has reached a record 17.1%, adding a potential £811 to annual household shopping bills, figures from Kantar reveal.
This month marks a full year since monthly grocery inflation rose beyond 4% as consumers named it their second most important issue behind energy costs and two-thirds said they were concerned about food and drink prices, Kantar analysts said.
Although cost-of-living pressures failed to dampen enthusiasm for Valentine’s Day celebrations this year, with sales of steak up by a quarter in the seven days to February 14 compared to the previous week, sparkling wine sales doubling and shoppers spending an extra £5 million on boxed chocolates.
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With flu season in full effect, February also saw sales of cold treatments rising by 82%, cough liquids up 78% and cough lozenges 70% higher.
Kantar said it was closely following the impact of fruit and vegetables sales in the coming weeks, although it noted that rationing introduced by some supermarkets including Tesco and Lidl were unlikely to affect consumers as they usually bought fresh items in smaller quantities.
Kantar head of retail and consumer insight Fraser McKevitt said: “Shoppers have been facing sustained price rises for some time now and this February marks a full year since monthly grocery inflation climbed above 4%. This is having a big impact on people’s lives.
“Our latest research shows that grocery price inflation is the second most important financial issue for the public behind energy costs, with two thirds of people concerned by food and drink prices, above public sector strikes and climate change.
“One quarter say they’re struggling financially, versus one in five this time last year. The numbers speak for themselves.”
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