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Double blow for supermarket buyers as the cost of ‘good’ range items rises by a fifth… AND discount stores are also raising their prices
- The costs of the lowest-priced foods are rising faster than those of branded products
- But supermarkets Lidl and Aldi are also raising prices faster than their competitors
Consumers are finding it more difficult than ever to save money on food, as not only is the cost of goods in supermarket price ranges rising rapidly, but so are prices in discount stores such as Lidl and Aldi.
According to consumer group Which? value class prices in British supermarkets have risen by more than a fifth in the past year.
The group found that value items as a whole increased in price by 21.6 percent in 12 months, compared to 13.2 percent for branded items.
The cost of premium ranges increased by 13.4 percent over the same period, while the value of standard private label foods increased by 18.9 percent.
On the rise: British consumers have not escaped price increases for food and groceries
One of the biggest price increases on value items was that of a 1kg bag of Sainsbury’s muesli, which rose 87.5 per cent from £1.20 to £2.25.
In the meantime tins of sliced carrots went from 20p to 33p, or 63 per cent, at Tesco, while a pack of pork sausages went from 80p to £1.27 at Asda.
Shoppers looking to save money on food often turn to discount supermarkets Aldi and Lidl.
But while they remain the cheapest of the two supermarkets, the duo have had to raise their prices much faster than rivals such as Tesco, Sainsbury’s and Waitrose.
Total year-over-year price inflation was 21.1 percent at Lidl and 20.8 percent at Aldi in December 2022. Which? found it.
Asda saw the third highest price increase over the period at 15.4 per cent, followed by Waitrose (14.5 per cent), Sainsbury’s (13.75 per cent), Tesco (13.1 per cent), Morrisons (12.9 per cent) and Ocado (10.5 percent). cents).
The price is rising: Lidl and Aldi saw the largest price increases for basic groceries such as milk, butter and cheese last year, surprising research shows
What the supermarkets say
An Asda spokesperson told Which?: ‘We are working hard to keep prices in check for customers despite global inflationary pressures and we remain the cheapest major supermarket – a position recognized by Which? in their regular monthly basket comparison which Asda has named as the cheapest supermarket for a major retailer every month for the past three years.’
A spokesman for Sainsbury’s said: “With costs rising, we are working hard to keep prices down. Last year we announced that we would invest more than £550 million in price reductions by March 2023 as part of our aim to put food back at the heart of Sainsbury’s.”
A Tesco spokesman said: “With household budgets under increasing pressure, we are absolutely committed to helping our customers by staying focused on the cost of the weekly shop.”