Food prices surge - the products increasing and decreasing in cost the quickest

Food prices are surging amid a rising cost of living crisis due to inflation, according to new data.

Brand consultant Kantar said inflation in February was 4.3 per cent with prices rising the quickest for savoury snacks, fresh beef, and cat food.

Meanwhile, the cost of bacon, beer, lager, and spirits has fallen.

Despite sales in the 12 weeks to February 20 falling by 3.7 per cent, Kantar said comparing data with the same period a year ago is problematic because the country was in lockdown.

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Fraser McKevitt, head of retail and consumer insight at Kantar, said: “Apart from the start of the pandemic, when we saw grocers cut promotional deals to maintain availability, this is the fastest rate of inflation we’ve recorded since September 2013.

“Added to this, ongoing supply chain pressures and the potential impact of the conflict in Ukraine are set to continue pushing up prices paid by consumers.

“In terms of understanding how shoppers are responding, it’s a complex picture for the market this month.

“Households spent on average £26.07 less at supermarkets in February and own-label sales did better than brands for the first time in three months.”

He added: “It’s important to flag that the drop in monthly spending isn’t all down to savvy budgeting.

“With the formal end to Covid restrictions in England, more of us are now eating on the go, buying sandwiches, salads and snacks on our lunch breaks, and enjoying meals out with friends and family. That means we’re buying less food and drink to have at home.”

Although food prices are increasing, supermarket sales are seeing an 8.4 per cent growth above pre-pandemic levels.

Discount supermarkets such as Aldi and Lidl are seeing the strongest growth - Kantar hints that this