Inflation in grocery prices has surged to 8.6% in the past three months, outpacing the broader economy, according to data from Kantar. The cost of a Christmas dinner for four has risen by over 3%, adding to the financial strain on households during the holiday season. Despite an uptick in supermarket visits in November, compared to last year, shoppers are purchasing fewer items per visit.
This persistent inflation trend is a cause for concern as families navigate the festive season. The overall impact on consumer spending is evident, as households grapple with the rising cost of essential items. Kantar’s figures indicate that supermarket sales in December are projected to exceed €1.4bn for the first time, underscoring the magnitude of the economic shift.
Furthermore, 46% of items purchased in supermarkets are own-label products, indicating a growing trend towards more affordable alternatives. As inflation continues to grip grocery prices, consumers face heightened challenges in managing their budgets, impacting purchasing behavior and contributing to a broader economic conversation.