The cost of an average annual food shop could rise by a staggering €662 if consumers buy the same products as they did last year.
This comes as grocery inflation has hit new highs of 9.5%, the highest level seen in 14 years.
Unfortunately, the grocery products with the biggest price rises are everyday essential items such as butter, milk, flour, eggs and bread, according to a new study carried out by Kantar.
And this will work out costing families an extra €662 a year on their annual grocery budget, reported Irish retail news magazine, Shelflife.
READ MORE: We bought the same Tesco and Aldi shopping list six months on and the change surprised even us
Senior Retail analyst with Kantar, Emer Healy said: “Everyday essentials such as butter, milk, flour, eggs and bread are seeing some of the biggest price rises.”
“This rise means that the average annual shop could rise by a staggering €662 if consumers buy the same products as they did last year. It is no surprise that we are seeing Irish shoppers making lifestyle changes to deal with the extra pressures on their household budgets.”
In response to the rising cost of living crisis, more shoppers are opting to buy their groceries online as well as choosing own-brand products from supermarkets.
Own-brand products from supermarkets now account for almost half (46.7%) of the total Irish grocery market, an increase of 2.7% from 2020.
“Online shopping makes it easier for shoppers to track their spending, while avoiding their own petrol costs,” Healy added.
“It is no surprise that online has welcomed a 13.2% increase in new shoppers, with 16.7% of the Irish population now purchasing their groceries online.”
This comes after the Irish Mirror compared the cost of the same 20 everyday products from Tesco and Aldi from six months ago, showing a stark jump in prices over that period.
On our shopping list, we chose essentials such as a loaf of bread, butter, pasta, minced beef, eggs, tea and more, but most items on our list had gone up in price since February.
Six months ago in February, the 20 grocery items bought in Tesco cost €29.57 but the exact same items had increased to €33.92 by August.
And a similar jump was seen in the Aldi products with the 20 items costing €27.83 in February and increasing to a total of €31.02 six months later.
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