UK Grocery Prices Continue To Fall
Grocery prices in the UK have fallen to their lowest level in more than a year, according to research conducted by MySupermarket.co.uk.
The mySupermarket Groceries Tracker monitors the cost of a basket of 35 grocery products on a monthly basis, and in February the basket cost £84.83, a fall of 4 per cent compared to its cost a year earlier.
Carrots and onions fell the most in price compared with January, both dropping 6 per cent. Mushrooms and broccoli have both decreased by more than 13 per cent since the beginning of 2015, while onions, bananas and cucumbers have also fallen by more than 10 per cent in that period.
Among the few products that have increased in price compared with February 2015 are pasta (up 6 per cent), crisps (up 4 per cent) and baked beans (up 3 per cent).
The website attributed the continued decline in prices to the supermarket price war, and noted that competition may be set to intensify further following this week’s announcement that Amazon customers will be able to purchase Morrisons fresh and frozen food products via Amazon Prime and Amazon Pantry.
As a price-comparison website geared at consumers, MySupermarket.co.uk views this trend as good news from the consumer's point of view, with Kim Ludlow, the site’s managing director, commenting, "The increased competition means each retailer will pull out all the stops to get you into their store.
"Prices will change regularly and it’s important to compare your entire basket before you shop to ensure you are getting the absolute best price every time."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Brian Dermody. To subscribe to ESM: The European Supermarket Magazine, click here.