The average annual shop is set to rise by €868 a year according to new figures from Kantar a data analytics and brand consulting company.
Grocery inflation in Ireland is also set to hit a record high of 12.4 per cent with 32 per cent of shoppers in the country admitting they are ‘struggling’ to make ends meet.
The latest figures from Kantar show that take-home grocery sales in Ireland increased by 3.6 per cent in the 12 weeks to October 3rd, 2022.
The sales of retailer own-label lines jumped 7.2 per cent in the last 12 weeks with Dunnes Stores having the highest share with 22.7 per cent and growth of 8.2 per cent year-on-year
In the latest 12 weeks, an 8.6 per cent increase in price per pack saw shoppers spend an additional €99.1 million compared to the same period last year, while the number of shopping trips increased by 3.8 per cent.
Over the last four weeks, the average price per pack increased by 8.7 per cent.
The rising cost of everyday essentials is hitting shoppers particularly hard, with the average price of staples like butter, milk and bread now 28 per cent higher than this time last year.
Speaking about the figures, Emer Healy, senior retail analyst at Kantar said: “Grocery price inflation is the highest level seen since Kantar started tracking the data.
"As food and drink prices continue to climb alongside other financial pressures, 32 per cent of shoppers in Ireland admit they are ‘struggling’ to make ends meet, a figure that has increased from 23 per cent in March of this year.
"The average annual grocery bill will go from €6,999 to €7,867 if consumers don’t make any changes to what they buy and how they shop to cut costs.
"This means the average annual shop is set to rise by €868 a year. At a basket level, that’s an extra €3.36 per trip”.
She said as consumers change their shopping behaviour to deal with the extra pressures on household budgets, supermarket own-label ranges are benefitting.
As household budgets tighten , shoppers are looking to their food and drink spend for small luxuries to enjoy at home.
As a result, in the last 12 weeks, sales of branded take home soft drinks, chocolate biscuit bars and crisps jumped 5.4 per cent, 10.9 per cent and 6.5 per cent respectively.
Overall, branded goods saw slight growth in the same period, up 0.7 per cent with shoppers spending an additional €9.2 million.
As ‘trick or treat’ season approaches, shoppers are preparing for Halloween festivities.
Sales of pumpkins soared 24 per cent year-on-year with shoppers spending an additional €1.3 million on sugar confectionery and €816,000 on chocolate confectionery.
