Price rises at UK supermarkets have fallen to their lowest level since September 2021.
Grocery price inflation dropped to 1.6% in the four weeks to 7 July 2024, down from 2.1% the previous month, according to industry analyst Kantar Worldpanel. It marks the 17th consecutive decline in the monthly rate.
Take-home sales at the supermarkets increased by 2.2% and consumers made 2% more shopping trips than they did one year ago. As pressure on household budgets eased, sales of branded products increased by 3.6%, outpacing own-label items at 2.7%.
Running up to the quarter-final round of Euro 2024, the data shows that beer sales increased by an average of 13% on the days when the England men’s team played, compared with the same day during the previous week, and spending on no and low-alcohol beer soared by 38%. Sales of crisps and snacks also got a boost, up by 5% compared with the month before.
This summer’s cooler weather is also reflected in the data, with sales of cold and flu treatments over the past three months jumping by 35% and sun cream sales down 10% compared with last year, when the country saw the warmest June on record. Meanwhile, sales of artificial tan products increased by 16%.
Reflecting on the recent change of government, Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, said that the retail landscape — and our shopping trolleys — look very different from 2010 when the last Labour government was in power.
“As diets have evolved, sales of popcorn, peanut butter and chilled vegetarian products, such as sausages and grills, have more than trebled,” he said. “We’re also more likely to have premium ground and bean coffee in our cups now.”
