Food prices are going up at the fastest rate for three years – here’s how to cut your grocery shopping bill
Fresh food prices jumped by 1.2 per cent in May
FOOD prices are going up at their fastest rate for more than three years as the weaker pound takes its toll on British shoppers, according to new research this month.
Figures from the British Retail Consortium (BRC) found food inflation accelerated to 1.4 per cent in May up from 0.9 per cent in April.
This consisted in a 1.2 per cent rise in fresh food prices in May, up from 1 per cent the previous month and a steep increase in the prices of ambient food up 1.8 per cent in May from 0.8 per cent in April.
Despite the price rises in food, overall UK shopping bills dropped by 0.4 per cent this month compared to a 0.5 per cent fall in April - the shallowest deflation rate since November 2013.
Helen Dickinson, chief executive of the BRC, said the trends for food and non-food are "two quite different stories".
Here's how to cut the cost of your grocery shop
WE spoke to Hannah Maundrell, editor of Money.co.uk, about how you can cut the cost of your shopping bills:
- Write yourself a list - Only buy items that you need. If it isn't on your list, don't put it in the trolley
- Create a budget - Work out a weekly budget for your food shopping
- Never shop hungry - you are far more likely to buy more food if your tummy is rumbling
- Don't buy pre-chopped veggies or fruit - The extra they'll charge for chopping can be eye watering
- Use social media - follow your favourite retailers to find out about the latest deals
- Be disloyal - You may want to go to different stores to find the best bargains
- Check the small print - It’s always worth checking the price per kg/lb/litre when comparing offers so you’re making a like for like decision as a bigger box won’t necessarily mean you get more
- Use your loyalty cards - Don’t be afraid to sign up to them all. They all work slightly differently - work out what bonus suits you better and remember to trade in your points for additional rewards
She said that the BRC expects the “general trend of inflation to be upwards over the course of the year, which will squeeze disposable income at a time when wage growth is slowing”.
“In terms of our imports of retail goods into the UK, three quarters of our imported food comes from the EU. So to protect consumer food bills from the additional cost of unwanted new tariffs, a continuation of tariff-free trade with the EU must be the priority in the forthcoming Brexit negotiations," she added.
Hannah Maundrell, editor in chief of said there are simple ways for UK families to cut down on their food shopping bills.
These include checking the small print when going grocery shopping, following their favourite supermarkets on social media to track the latest deals and most importantly not going shopping hungry to avoid buying too much.
“It’s always worth checking the price per kg/lb/litre when comparing offers so you’re making a like for like decision as a bigger box won’t necessarily mean you get more,” she said.
“Only buy things you’ve already decided you need and can afford. If it isn’t on your list, don’t put it in the trolley,” she added.
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