UK grocery gross sales reached £12.8bn in December, as mounting meals costs raised households’ Christmas buying payments, in response to new sector information.
The determine for December 2022 was £1.1bn larger than in the identical interval of 2021 and marked the primary time month-to-month grocery gross sales exceeded £12bn, in response to analysis revealed on Wednesday by consulting firm Kantar.
Fraser McKevitt, head of retail and client perception at Kantar, stated that grocery value inflation was the “real driving factor” behind the figures, noting that by quantity, gross sales declined 1 per cent year-on-year.
“Value sales of mince pies soared by 19 per cent but volume purchases barely increased at all,” McKevitt stated, referring to a well-liked British festive snack.
Kantar’s information confirmed grocery value inflation for December was close to document ranges, at 14.4 per cent above the identical month a 12 months earlier than, edging down from 14.6 per cent in November.
“This is the second month in a row that grocery price inflation has fallen, raising hopes that the worst has now passed,” McKevitt stated.
The Workplace for Nationwide Statistics, supplier of the UK’s official financial figures, will launch its meals value inflation figures later this month. Its most up-to-date information confirmed annualised meals value inflation for November at a 45-year excessive of 16.6 per cent.
Excessive meals costs additionally prompted consumers to show to low cost chains, in response to Kantar. It stated that Aldi, the UK’s quickest rising grocer, expanded its market share to 9.1 per cent in December, up from 7.7 per cent a 12 months earlier than.