Grocery inflation nudging 5 per cent according to fresh data

Grocery inflation has climbed again and is currently running at 4.7 per cent, according to the latest figures from Worldpanel by Numerator.The figures suggest that the rate at which prices are climbing in Irish supermarket has gone up by almost one per cent since the August data was released by the retail analysts. If inflation is maintained at the current rate over the next 12 months, a household that spends €200 a week on groceries will be just under €500 more down over the next year than they were last year.The figures also come following almost four years of sustained increases that have cost average Irish households well in excess of €3,000 when compared with the years leading up to the end of 2021.READ MOREThe figures from the retail analysts point to take-home grocery sales increasing by 4.3 per cent over the four weeks to October 4th when compared with the same period last year.The data also highlights how Irish shoppers stocked up on over-the-counter remedies in the run-up to flu season, with spending on promoted products in this category up 17 per cent. [ Ireland is richer and spending more than 30 years ago but is it making us happy?Opens in new window ]At the same time, a milder-than-usual September extended the summer mood with spending on ice cream up by €11.8 million while home baking declined by 15 per cent over the latest 12 weeks. “The cost of living was front of mind for shoppers in Ireland in the run-up to the latest budget. Milder weather may have delayed the decision by many to turn on the heating, but the mood among shoppers is cautious, who are thinking carefully about what they put in their basket. They’re shopping little and often and keeping a close eye on spend,” said Worldpanel’s head of retail Eimear Faughnan.She noted that promotions remain front and centre for shoppers, accounting for almost 21 per cent of grocery spend over the latest 12 weeks.Microsoft president Brad Smith: Ireland is “well-positioned for future of AI”“Special offers remain a key tool for shoppers looking to keep their grocery bills in check and make pricier items and larger packs more affordable, and the increase in promotional spending is further evidence that the focus is on value for money for many,” Faughnan said. Branded ranges held 50.9 per cent of the market, with sales up 12.4 per cent year on year. Own label grew at a similar pace, up 3 per cent but premium own label was the standout performer, with sales up 11.9 per cent.While Halloween is still almost two weeks away, shoppers are also getting an early start on the festive season. Branded ranges across chocolate confectionery grew by €16 million, biscuits by €15.6 million and sweets by €12.9 million.Over the latest 12 weeks, Dunnes commanded a market share of 24.8 per cent market share, with year-on-year sales growth of 7.2 per cent while Tesco was on 24 per cent with year-on-year value growth of 6.7 per cent. SuperValu continues to be behind the big two with 18.8 per cent of the market, up 3.3 per cent on the previous 12 weeks. Lidl stands at 14.6 per cent while Aldi holds 10.8 per cent of the market.