As the latest CPI ‘basket of goods’ data is published today, new analysis from VoucherCodes.co.uk reveals that an overwhelming 84 per cent of consumers are paying more for their typical grocery shop than 12 months ago.
The average weekly increase was found to be £16.30, amounting to households spending almost £850 extra a year on groceries. The weekly increase was highest in the North East with households in the region paying an extra £18.64 a week or £970 a year. While the lowest rise in grocery spend is in the West Midlands, with an added £14.10 a week being spent on groceries, still totting up to £733 more a year.
The research highlights how consumers are left looking for ways to cope with the rising cost of basics. Almost a fifth of shoppers admitted the increase in their weekly grocery spend has forced them to buy cheaper alternatives or visit less expensive supermarkets (17 per cent). Furthermore, over a quarter of consumers (27 per cent) said they would have bought more expensive or luxury groceries five years ago without a second thought but, following the recession, can now only afford to splash out if it is absolutely essential.
Duncan Jennings, co-founder of VoucherCodes.co.uk comments: “The steady rise in the cost of living, especially essentials such as the weekly grocery shop, can leave consumers buckling under the pressure. But while household budgets are being stretched, shoppers can ensure they are being smart about their spending habits and make significant savings.
“Consumers looking for ways to cut costs without compromising on quality should always browse online before they part with their hard earned cash. Checking for discounts and deals only takes a couple of minutes and could make a real difference to those households attempting to reduce the impact of rising grocery prices. Voucher code sites often have excellent discounts from the nation’s favourite retailers, including popular supermarkets. Shoppers looking for the hottest offers should also ensure they’re signed up to voucher sites’ alerts or newsletters, as many of the best deals do not stick around for long.”
Notes to editors:
Research of 2000 Britons aged over 18yrs was carried out by One Poll between 15th to 18th February.