Grocery price inflation slowed again this month as consumers brace themselves for the fallout from the Middle East crisis to reach food costs.
Supermarket prices were 3.1% higher than a year ago in May, down from April’s 3.8% and March’s 4.3%, figures from Worldpanel by Numerator show.
Shoppers leant on promotions to keep costs down, with 30.3% of sales involving a deal last month, up from 28.4% a year ago.
Spending on full price items was virtually flat, growing by only 0.1%.
Fraser McKevitt, head of retail and consumer insight at Worldpanel, said: “The easing in the rate of inflation is welcome news for shoppers who have been grappling with warnings of a hike in food prices due to the impact of the war in the Middle East.”
The figures come days after the Government announced a plan to suspend tariffs on some food imports as part of wider efforts to combat rising prices.
The full list of products is yet to be published but is expected to include biscuits, chocolate, dried fruit and nuts.
Ocado continued to be the fastest growing grocer with sales up by 10.2% year on year, although this is the slowest recorded rate of growth for the online specialist since July 2024.
Discounter Lidl reached a new record high market share of 8.6% over the 12 weeks to May 17, securing its position as Britain’s fifth largest grocer behind Tesco, Sainsbury’s, Asda and Aldi.
Sales at Tesco increased by 3.2%, with market share rising to 28.2%, while Sainsbury’s sales grew up 3.1% to achieve a 15.2% share.
Waitrose sales were up 3% and Marks & Spencer saw its grocery sales increase over the quarter by 9.3%.
