Price of supermarket own brand groceries soars by 13.5% amid ongoing cost-of-living crisis

25 Apr 2023, 11:49

Tags:
Cost of Living

The price of supermarket own-brand groceries has soared by 13.5% amid the ongoing cost of living crisis, it has been reported.

This means that Brits are still being squeezed by the ongoing crisis.

The price of supermarket own brands have soared (Credit: Pixabay)

Price of supermarket own brand groceries soar

The price of supermarket own-brand groceries has soared by 13.5%, new figures show – as reported by the MailOnline.

Food price inflation remains above 17%, new reports show, meaning Brits are further squeezed during the cost of living crisis.

Despite this being down from 17.5% last month, analysts at Kantar have warned that the fall only means that prices are not increasing as quickly. This comes after 10 months of double-digit growth.

Own brand labels were up by 13.5% year on year. The very cheapest value lines soared by 46%.

Own brand labels are up by 13.5% (Credit: Pixabay)

Supermarket prices tighten squeeze amid cost of living crisis

Meanwhile, branded sales are up 4.4%. Prices for staples such as eggs, milk, and cheese have risen the fastest.

UK grocery sales rose 8.1% over the four-week period year-on-year.

The head of retail and consumer insight at Kantar, Fraser McKevitt, said: “The latest drop in grocery price inflation will be welcome news for shoppers but it’s too early to call the top.

“We’ve been here before when the rate fell at the end of 2022, only for it to rise again over the first quarter of this year,” he continued.

“It’s important to remember, of course, that falling grocery inflation doesn’t mean lower prices, it just means prices aren’t increasing as quickly.”

Pepper sales are being rationed (Credit: Pixabay)

Sales of peppers to be rationed

Meanwhile, Morrisons has become the first supermarket in the UK to limit the sale of peppers. Shoppers are now only allowed to buy two packs of peppers per customer.

The pepper shortages have reportedly been put down to poor weather in Spain, where they’re grown. These shortages could reportedly last up until May.

Morrisons isn’t the only supermarket to be struggling with pepper shortages. Waitrose is also feeling the impact, with shelves emptying quickly.

“On background, we still have a max cap in place on peppers but we’re hoping to lift this in the next week or so as supply is better,” a Morrisons spokesperson told ED!

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