Grocery prices now climbing by more than 5% new figures show

Irish Times

16 hours ago

Groceries in Irish supermarkets
are getting more expensive with the latest figures from retail analysts
Kantar
Worldpanel suggesting a rate of inflation of 5.3 per cent over the last 12 weeks.
While the current rate is significantly lower than what was recorded at the height of the cost-of-living crisis in the summer of 2023, it is around twice the level recorded this time last year.
Multiyear price hikes have cost many Irish households thousands of euro each year with little prospect of a reversal in the short or medium term.
According to Kantar grocery inflation was 5.3 per cent in the 12 weeks up to the middle of June compared to the same 12-week period last year.
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Kantar's business development director Emer Healy said higher prices were 'clearly affecting both sales performance and shopper behaviour'.
She said that as 'grocery bills rise alongside other household expenses, Irish consumers are cautious with their spending and actively seek out promotions to secure the best value.'
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Shoppers spent €802 million on promotional lines during the latest 12-week period, a 15.7 per cent increase compared to the previous year.
As well as rising prices, the Kantar research also points to 'abnormally hot weather over the last two months' prompting shoppers to splash out on sun creams and picnic-friendly convenience foods while visiting shops more frequently.
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People went to supermarkets 22.7 more and spent an additional €28.8 million over the last month. This is the highest summer frequency recorded since June 2021 when frequency was an average of 21.4.
Ms Healy said that due to the warmer than normal weather sales of sun cream jumped by 6. per cent while shoppers also spent significantly more on prepared fresh fruit, water and dilutes, smoothies and juices.
Convenience proved to be a priority in the sunny weather with an additional €2.4 million spent on chilled ready meals.
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Brands and own label both performed strongly, growing at 6.2 per cent with the former overtaking the latter in value share of the total market at 47. per cent, compared to brands with a 47.1 per cent value share.
Premium own label experienced growth of 15.3 per cent over the 12 weeks, outperforming the total market which increased by 6.9 per cent
When it comes to the store wars, Dunnes retained its lead with s 23.6 per cent of the market and sales growth of 8 per cent year on year. Tesco commanded 23.3 per cent of the market, with value growth of 7.7 per cent year-on-year while SuperValu was on 20.2 per cent with growth of 5.6 per cent.
Lidl had 14 per cent of the market share here, while Aldi was at 11.8 per cent.