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Supermarkets Hike Prices: Shoppers Face Rising Costs
17 Apr
Summary
- Tesco saw a 6.6% drop in basket prices compared to last month.
- Overall basket cost increased by 1.7% compared to the previous year.
- Princes corned beef is 15.2% more expensive than a year ago.
Shoppers are facing increased costs at supermarkets, with an overall basket price rise of 1.7% compared to the previous year. One of the most significant price increases noted is for Princes corned beef, which is now 15.2% more expensive than it was a year ago.
In contrast to the general trend, Tesco was the only supermarket to record lower prices compared to the month prior. They offered price reductions on 16 items, leading to a 6.6% decrease in their basket price for March.
Asda also saw benefits from promotional activities this week. The supermarket offered eight multibuys and four price promotions on items like KP peanuts and fresh rhubarb, encouraging shoppers to buy in larger quantities.
Beyond food, rising clothing prices are also a concern for consumers. Businesses are currently navigating challenges such as increased staffing expenses, higher energy prices, and national insurance contributions.
