UK grocery price inflation hits record 17.1% adding £811 to yearly household shopping bills, figures show

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Kantar analysts said February marks a year since monthly grocery inflation climbed above 4% which is having a “big impact” on people’s lives

Grocery price inflation has hit a record 17.1% adding a potential £811 to yearly household shopping bills, figures show.

Figures by analysts Kantar also saw sales of cold treatments rising by 82%, cough liquids up 78% and cough lozenges 70% higher in February.

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The analysts said 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.

Kantar said it was closely following the impact of vegetable and fruit shortages on sales in the coming weeks, although it noted that the pack limits introduced by some supermarkets were unlikely to affect consumers as they usually bought fresh items in smaller quantities.

The analysts found that enthusiasm for Valentines Day was still high this year despite cost of living pressures.

Sales of steak were up by a quarter in the seven days to 14 February compared to the previous week. Sparkling wine sales doubled and shoppers spent an extra £5 million on boxed chocolates.

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Fraser McKevitt, head of retail and consumer insight at Kantar, 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.”

He added: “One quarter say they’re struggling financially, versus one in five this time last year. The numbers speak for themselves.”

Aldi’s market share reached a record 9.4% and remains the fastest growing grocer, with sales up by 26.7%. It was closely followed by Lidl, which increased sales by 25.4% and achieved a market share of 7.1%.

Meanwhile, Iceland increased its market share to 2.4%, up from 2.3% last year, as spending through its tills increased by 10.8%.

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