The average grocery bill in the UK is expected to rise by £380 this year, according to research firm Kantar.
Back in April, the company predicted the cost of the average annual supermarket store would rise by £280 in 2022.
The upward revision shows “how sharp price increases have been recently and the impact of inflation on the sector,” Kantar said.
The survey also found that food prices have risen 8.3% over the past four weeks, the highest rate in 13 years.
Total supermarket sales are down, down 1.9% in the 12 weeks to June 12 – the smallest drop since October 2021.
Fraser McKevitt, Head of Retail and Consumer Insight at Kantar, said: “The sector has not grown since April 2021 as it rivals record sales during the pandemic. However, these latest figures show that the market is in flux with the extent of the return to pre-COVID norms if we start making comparisons to post-lockdown times.
The researchers also found that branded shoppers, whose sales fell by 1%, are switching to supermarket own-brand products.
“Sales of these often lower-priced product lines are up 2.9%, driven by the strong performance of Aldi and Lidl, both of which have extensive own-brand repertoires,” McKevitt said.
“We can also see consumers turning to value ranges like Asda Smart Price, Co-op Honest Value and Sainsbury’s Imperfectly Tasty to save money, and all premium private label lines together grew 12.0%.”
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