The pace of grocery price inflation in the UK seems to be easing off, with new figures showing a decrease for the first time in nearly two years.
Last month, the annual rate stood at 14.6%, down slightly from a record 14.7% in October.
Rising prices for food and other essentials have contributed to UK inflation reaching a 41-year high of 11.1%.
Shoppers will have to spend an extra £60 on their grocery shopping in December to buy the same items as last year, data and analytics company Kantar said.
The cost of a traditional Christmas dinner for four has reached £31 in 2022, an increase of 9.3% from 2021.
“December looks set to be a record-breaking month with sales going above the £12bn mark for the first time,” said Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel.
“We’re expecting Friday 23 December to be the busiest day for pre-Christmas shopping.”
Consumers are delaying their seasonal purchases this year as they try to manage budgets in the run-up to Christmas Day. Sales of mince pies, Christmas puddings and Christmas confectionery are worth 2% more than last year, but this rise can largely be put down to higher prices. Based on the amount of people buying these items and the overall number of purchases made, sales are actually down on 2021.
Shoppers are also continuing to buy more own-label products and spending more at discounters Aldi and Lidl in a bid to make their money go further, Kantar found.
