Brits blow record £13bn in supermarkets as inflation cools
Brits spent a record £13.7bn in supermarkets during December, as grocery inflation continues to show signs of cooling.
According to a new study from Kantar, the festive month saw the average household spending an all-time high of £477 when they hit the till.
It came as grocery price inflation fell to 6.7 per cent in December, its lowest level since April 2022, and a drop from 9.1 per cent recorded in November.
Fraser McKevitt, head of retail and consumer insight at Kantar, said: “While the rate at which grocery prices are rising is still well above the norm, the good news for shoppers is that inflation is continuing to come down.”
“It dropped again in November to 9.1 per cent. The retailers are also battling it out to offer value to consumers during this important month for trading and are doing what they can to keep prices low.”
The latest reading from Kanatr shows discounter Lidl was the fastest-growing grocer, boosting sales by 14.2 per cent over the 12 weeks to 26 November to take a record market share of 7.8 per cent.
Tesco also increased its market share to 27.5 per cent following a growth in sales of 8.6 per cent during the term.
Demand for own label lines also proved popular, with sales of Sainsbury’s ‘Taste the Difference’ range up by 23 per cent year on year.
McKevitt added: “Own-label is still doing incredibly well and premium lines especially so. These products are up by 15.4 per cent year on year, with wine, chilled ready meals and fresh beef among the big winners last month.”