According to Kantar, grocery price inflation in the period hit 14.7% in the 12-week period, the highest level since Kantar began tracking inflation figures.
As a result, shoppers spent an additional €118 million on private-label products in the period. Value own-brand ranges saw the strongest growth, up 29% year-on-year, with shoppers spending an additional €14.4 million on cheaper private-label products.
In addition, sales of premium private-label products were also up, by 5.1%.
For the month of November alone, grocery sales increased by 4.5% driven by an 11.5% increase in average prices and shoppers returning to stores more often, Kantar data showed.
Impact On Shopper Budgets
“As food and drink prices continue to rise alongside pressures on household bills, the impact on shopper budgets is unavoidable for many people," commented Emer Healy, senior retail analyst, Kantar. "Now, with inflation at 14.7%, the average annual grocery bill is set to rise from €7,037 to €8,071, an extra €1,034 a year. At a basket level, that’s an additional €4.23 on top of the cost of the average shopping trip of €28.75."
In terms of the performance of Ireland's largest grocers, Dunnes Stores holds the highest market share for the 12-week period, of 23.3%, having seen its sales rise 7.4% year-on-year.