The supermarket where prices have risen fastest
The cost of living crisis has seen prices shoot up in recent months, forcing millions of Brits to find ways to save money.
One of the sharpest rises has been in food inflation, which has surged to 12.4% – a new record – amid predictions of dampened Christmas cheer and an “increasingly bleak” winter.
The British Retail Consortium (BRC)-Nielsen IQ Shop Price Index shows fresh food inflation rose even higher to 14.3%, up from 13.3% last month, driven particularly by the cost of meat, eggs and dairy.
Overall shop prices are now 7.4% higher than last November, up from 6.6% in October, to set another record since the BRC records began in 2005.
All the UK's major supermarkets have increased their prices in the current climate – but some rises have been particularly steep.
According to figures from the trolley.co.uk Grocery Price Index (GPI), Iceland saw a 9.4% increase in prices since November 2021, making it the supermarket where prices have shot up the most.
Percentage price rises of the UK’s major supermarkets between November 2021 and November 2022:
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Research by consumer group Which? in October found that Aldi was the cheapest supermarket in the UK overall.
An average household basket full of 48 groceries and other essentials there came to £75.79 – compared to £77.68 at Lidl and £84.98 at Asda.
The cost of the basket at Tesco and Sainsbury’s came to £86.1 and £86.36 respectively.
Wider research of 148 items at the six ‘traditional’ supermarkets (that does not include discount stores Aldi and Lidl) found that Asda was the cheapest, at £348.38, with the next cheapest being Sainsbury’s at £348.38.
Responding to the increases in food prices, BRC chief executive Helen Dickinson said that “Christmas cheer will be dampened this year” as households cut back on seasonal spending “in order to prioritise the essentials”.
She added: “Retailers continue to do all they can to support their customers and ensure everyone can enjoy the festive season by fixing prices of many essentials, offering discounts to vulnerable groups, raising pay for their own people, and expanding their value ranges.”
Mike Watkins, head of retailer and business insight at NielsenIQ, said retailers are responding to the uptick in prices by “offering seasonal savings and price cuts”.