Butter, milk and poultry are worst affected – according to the study by consulting company Kantar – meaning the average annual grocery bill will increase by a whopping £533 as Brits “shop around between the retailers to find the best value products”.
“It’s not surprising that we’re seeing shoppers make lifestyle changes to deal with the extra demands on their household budgets. Own-label ranges are at record levels of popularity, … holding 51.6% of the market compared with branded products, the biggest share we’ve ever recorded”, analysts said.
The report comes as Britons grapple with a spiraling cost of living crisis, looming energy chaos, and the ongoing selection of a new PM.