Grocery price inflation fell for the seventh month in a row to 11% for the four weeks to 1 October 2023, the lowest rate since July 2022, according to new data.
The data from Kantar reveals take-home grocery sales over the same period rose by 9.1% compared with last year.
Tom Steel, Strategic Insight Director, Worldpanel Division, UK, said: “Grocery price inflation is still very high, but shoppers will be relieved to see the rate continuing to fall. For the first time since last year, the prices of some staple foods are now dropping and that’s helping to bring down the wider inflation rate.
“Dairy was one of the categories where costs really shot up last autumn, but the average price paid for a 250g pack of butter is now 16 pence less than 12 months ago.”
Spending on promotions made up more than a quarter of all sales in the latest 12-week period at 26.5%, the highest level since June 2022, the Kantar data reveals.
In addition, the sunnier weather in September resulted in volume sales of ice cream, burgers and dips increasing by 27%, 19% and 10%, respectively. Meanwhile, Christmas seemed further away for many with fewer people buying Christmas puddings and seasonal biscuits as volume sales were down by 14% and 29% versus this time last year.
