Grocery price inflation falls slightly for second consecutive month
Food prices remain 4.9% higher than a year ago as lunchboxes hit
- Grocery inflation has eased for the second consecutive month, with prices now 4.9% higher than a year ago, down from 5% in the previous period.
- Despite the slight decrease, rising food costs continue to exert significant pressure on household budgets, as reported by market research firm Worldpanel by Numerator.
- Consumers are increasingly turning to supermarket own-label products, which now constitute 51.2% of all sales, as they seek more affordable alternatives.
- Sales of lunchbox staples, including yogurt, sliced cooked meats, and cheddar cheese, saw notable increases as students returned to school.
- Tesco's market share grew to 28.4%, while Ocado was the fastest-growing retailer with an 11.9% sales increase, and Lidl was the fastest-growing bricks and mortar retailer.