Grocery inflation falls but still at third highest level since records began
The price of groceries has fallen for the second consecutive month, but inflation still remains at the third-highest level since records began in 2008.
According to grocery price inflation data from Kantar, food inflation fell to 17.2% in the four weeks to May 14.
This rate of inflation could add £833 to the average household’s annual grocery bill.
Many shoppers are choosing to cut costs by choosing own-brand products, with sales of these products rising 15.2% in the latest period, compared to the 8.3% increase seen in branded products.
Despite pressure on people’s wallets, consumers took to spending an extra £218m over the Coronation weekend, up 16% for the week on a year-on-year basis. Sales of sparkling and still water rose by 129% and 33% respectively, despite wine inflation sitting at only 1%.