‘Rollercoaster’ food prices back – how to keep your grocery bill down

We hate to be the bearer of bad news, but food prices are on the rise again.

New research suggests the average household could be facing spending an extra £275 a year on groceries unless we change our shopping habits.

Why are prices rising?

Worldpanel by Numerator say we’re back on the “rollercoaster” of food inflation – a familiar pattern that started after Russia invaded Ukraine in 2022, when energy and commodity prices soared. Things eased a little last year, but the latest figures show food prices have gone up 5.2% in the past month compared to a year ago – the sharpest increase since early 2023.

Some of the biggest price hikes have been seen in:

• chocolate
• butter and spreads
• fresh meat

On the flip side, dog food, laundry products and confectionery have come down in price slightly.

What's changing at the checkout?

Savvy shoppers are already changing their habits to adapt to these higher prices. More own-brand products are ending up in trolleys, and people are making simpler evening meals with fewer ingredients to try and cut costs.

Fraser McKevitt from Worldpanel says most people still have room to reduce spending - whether by switching brands, shopping somewhere cheaper or making the most of special offers.

But the research also shows that around one in five households are already at breaking point, with no further room to cut back.

Tips to keep your food bill in check

If you're looking for ways to spend less without sacrificing quality or nutrition, here are a few ideas that could help:

Get savvy with supermarket own-brands

Many supermarkets offer value or ‘essentials’ ranges that are much cheaper than branded goods.

Plan simpler meals

Basic ingredients like pasta, tinned tomatoes and frozen veg can stretch a long way without breaking the bank. And reducing the number of components in meals doesn’t have to mean skimping on flavour.

Plan your shop – and stick to it

Writing a list and meal planning for the week ahead can help you avoid unnecessary spending and food waste.

Swap instead of sacrifice

If butter’s gone up, could margarine or oil work for what you need? Instead of cutting items completely, think about cheaper alternatives.

Use promotions wisely

Special offers can be a great way to save, but only if you were planning to buy the item anyway. Don’t be lured into spending more on things you don’t need.

Try discount stores

Retailers like Aldi, Lidl, and other budget chains often come out on top in price comparisons – worth a visit if you’ve not been in a while.

With food inflation heading back up, now might be a good time to reassess your food shop. A few small changes could make a big difference to your budget – and take some of the sting out of that checkout total.