Grocery inflation in England has experienced a significant drop, reaching its lowest level in a year, according to recent findings by Kantar, a prominent market research company. This development comes as a welcome relief for consumers grappling with the steadily rising costs of everyday essentials, while the British government has committed to addressing this issue.
In a report released by Kantar, it was revealed that grocery price inflation stood at 12.2% year-over-year for the four weeks leading up to September 3rd. This marks a noticeable decrease from August’s figure of 12.7%. Simultaneously, grocery sales across the UK saw a healthy increase of 7.4% during the same period.
Kantar’s analysis further pinpointed specific food products that witnessed the most significant price hikes, including eggs, sugar, desserts, and frozen potato products.
Speaking on this latest development, Kantar’s Head of Retail and Consumer Insights commented, “Grocery price inflation has now seen six consecutive months of decline. However, the current rate of 12.2% remains a matter of concern for many households.”
Data from research sources underscores the persisting worry among 95% of consumers regarding the impact of escalating grocery prices, likening it to the anxiety surrounding energy costs. Interestingly, fewer than one in four consumers report experiencing financial hardship amid these challenging times.
This dip in grocery price inflation, while positive, highlights the ongoing concern and economic challenges faced by households across England. As the British government takes measures to address this issue, consumers are eager to see further relief in their daily expenses.