Overall YoY inflation According to a survey by consumer magazine Which?, Lidl reached 21.1% and Aldi 20.8% in December.
Popular low-priced items in German supermarkets are still cheaper overall than rivals such as Tesco and Sainsbury’s Asda and Morrison.
Asda recorded the third highest price increase at 15.4%, followed by Waitrose (14.5%), Sainsbury’s (13.75%), Tesco (13.1%), Morrisons (12.9%) and Ocado (10.5%).
Lidl and Aldi saw the biggest increases in prices for basic groceries like milk, butter and cheese last year, a surprising study reveals
According to a survey by the consumer magazine Which?, year-on-year price increases across German supermarkets were 21.1% (Lidl) and 20.8% (Aldi) in December. – but still the cheapest overall
That’s because a study found that prices for commodities have risen by up to 30% across the board, raising suspicions of supermarket profiteering.
Consumer Watchdog Says Shoppers Trust Stores More should be done to help consumers weather the cost of living crisis.
In the year to December, food and beverage inflation was found to be 15% across the UK’s eight largest supermarkets.
Asda’s Quaker Oats So Simple Simply Apples (8x33g) had the highest individual product gains. From £1 to £2.88, an increase of 188% in one year.
Butter and spreads rose 29.4%, milk 26.3% and cheese 22.3%.
Bakery items rose 19.5%, bottled water rose 18.6%, while savory pies, pastries and quiches rose some 18.5%.
Waitrose has increased the price of 500g of Utterly Butterly (500g) by 95% from £1 to £1.95. At Tesco, Creamfields French Brie (200g) is up 81% from 79p to £1.43.
Many supermarkets reported strong Christmas sales as food prices continued to climb to record highs.But consumer watchdog said shoppers believe stores should do more to help customers weather the cost of living crisis.
In the year to December, food and beverage inflation was found to be 15% across the UK’s eight largest supermarkets
Why food prices soared
Here are some examples of how food prices have increased over the past year.
This figure is based on the Consumer Price Index (CPI) inflation indicator, published by the National Bureau of Statistics.
In both cases, the numbers are the average percentage change in price over the 12-month period ending December 2022.
Low-fat milk 46%
Olive oil 39.5%
whole milk 38.5%
Cheese and curds 32.6%
Pasta products and couscous 29.1%
Vegetable oil such as margarine 24.2%
jam, marmalade, honey 24.2%
Sauces, seasonings, salts, spices, culinary herbs 22.8%
Ready-made meals 21.7%
Frozen seafood 18.4%
Edible ice and ice cream 18%
Fresh/chilled fish 16.3%
Potato chips 14.1%
Breakfast cereals and other cereal products 9.5%
Fresh or chilled fruit 6.4%
dried fruits and nuts 5%
According to the survey, confidence in the supermarket sector has fallen from +67 in May 2021 to +42 today.
which one? “Rising prices have emerged as a common reason among consumers who do not trust the sector. In particular, prices are sometimes artificially high, and companies are trying to offset rising costs. It’s the realization that it goes beyond what is needed.”
Many shoppers have switched to cheaper supermarket or private label products to make ends meet. However, research shows that these prices are rising the fastest.
Across supermarkets, low-priced items increased an average of 20.3%.
Despite being the cheapest store overall, Lidl had the highest price at 21.1%, while Aldi had a value of 20.8%.
Who is Sue Davis? “Some households are already skipping meals to maintain their finances, and our findings have many worried that they are prioritizing profits over those suffering from this cost-of-living crisis. So it shows that we have confidence in the fact that supermarkets are taking a hit.”
Retailers claim that rising energy costs due to the war in Ukraine are the main cause of the price increase.
Ministers today welcomed signs that inflation is finally coming down after headline numbers fell.
The annual CPI rate fell to 10.5% in December, down from 10.7% the previous month, as plummeting fuel prices eased the pain for Britons.
The index has fallen for the second year in a row, with experts suggesting it has peaked after October’s 40-year high of 11.1%. Pressure on the Bank of England to keep raising interest rates may ease, but it looks inevitable that they will rise again within two weeks.
But Prime Minister Jeremy Hunt has warned that efforts to tackle the price curse cannot be stopped. The minister also vowed to firmly oppose the wave of public sector strikes, saying that giving in to demands for double-digit wage increases risks undermining the progress made so far.
After the numbers were released, Hunt said: We are addressing the pressure pensioners face as they shop each week, and sometimes the pressure on companies worried about their viability.
“This should be our central mission, which is why the prime minister said he would nail his colors to the mast and cut inflation in half within the next year.”
Inflation eased slightly in December after spiraling out of control in October
Falling motor fuel prices were one of the main drivers of the decline in the headline consumer price index
Consumer prices fell slightly across the board, but food and beverage inflation rose again to 16.8% in December from 16.4% in November. This was his highest since September 1977.
Commodities were once again one of the biggest price gains, with dairy and sugar prices soaring.
High prices for goods and services are one of the main causes of nationwide strikes.
Nurses, teachers, train drivers and other workers on strike today and tomorrow are demanding wage increases that exceed inflation.
David Bharier, head of research at the British Chamber of Commerce, said prices appeared to be “stable”.
He said two consecutive declines in CPI inflation “suggest that the peak has passed”, but rising prices remain a serious concern for businesses.
“A further decline in fuel cost growth was partially offset by continued inflation within the hospitality sector,” he said.
“This simply means that prices will stabilize at a much higher level than they were a year ago.
“Inflation remains the number one issue impacting businesses. According to our latest research, inflation is a concern for 80% of businesses and is approaching a record high.
“High inflation is a household nightmare,” said Finance Minister Jeremy Hunt.
Treasury Secretary Jeremy Hunt said, “High inflation is a nightmare for households, ruining business investment and leading to strikes, so we need to stick to a plan to bring it down, no matter how grim.
“While lower inflation is welcome, we have plans to go even further this year to halve inflation, reduce debt and grow the economy, but it is important that we make the necessary difficult decisions and see through the plan. am.
“To help families in the meantime, we will provide an average of £3,500 in assistance to each household this year and next year.”
Shadow Chancellor Rachel Reeves said: “Thirteen years of wasted opportunity under Conservative government have weakened our economy and made our families’ lives even worse.
“Work keeps our economy stable and growing.”
News about inflation comes as nurses roam the UK today, affecting a quarter of the country’s trusts.
The Royal College of Nursing, whose staff are on strike for the first time in history, has demanded a pay rise 5% above inflation, but has since said it will accept lower offers.
The news comes as nurses leave the UK today after the Royal College of Nursing called for workers’ wages to rise above inflation.
Government Minister Robert Jenrick argued that the slight drop in inflation was the reason for not giving striking public sector workers significant wage increases.
“Therefore, this must be approached with great caution, as inflation is a great evil.”
Grant Fitzner, chief economist at the Office for National Statistics (ONS), said: “Inflation eased slightly in December but remains very high, with overall prices rising significantly over the course of last year. .
“Food prices continue to rise, with prices rising in shops, cafes and restaurants.”
Helen Dickinson, chief executive of the UK retail consortium, has warned that prices will remain high despite lower consumer price index (CPI) inflation.
“They are keeping prices affordable on many essentials, expanding their range of values, increasing salaries for their own staff and offering discounts to vulnerable groups.”
https://www.dailymail.co.uk/news/article-11648553/Aldi-Lidl-shoppers-face-highest-inflation-hikes-Cost-basic-groceries-rise-20.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Aldi and Lidl shoppers face highest inflation rise: Basic grocery costs rise by more than 20%