The financial website This is Money has claimed that, on average, Britons are now paying £133.00 more on their annual food shop than they did this time last year; this is seven additional supermarket shops!
According to a survey reported by This Is Money, the cost of butter has increased by 20% while the issue with the salmon supply has contributed to the cost of fresh and tinned fish increasing by 14%. Both of which contribute to a grocery inflation which is currently running at 3.2%.
Whilst the rising prices aren’t too kind on the purse strings of UK shoppers, they have helped the UK’’s supermarkets increase their sales at the strongest pace seen in over five years. The robust growth, although partly helped by the rising inflation, has also been helped by the hot weather encouraging shoppers to buy summer items like ice cream and cider, which rose by 12% and 16% respectively.
With inflation rising, yet our shopping budgets remaining the same, we thought it would be handy for us to share with you our top tips on how to keep the cost of you your supermarket shops down.
Branded isn’t always better
There is pretty much an ‘own-brand’ substitution for every item that you put in your trolley nowadays! Why not try some of them? From baked beans to caviar, you really can get it all and at a lower price. Even if you substitute 2-3 items in your trolley, per shop, you may be looking at a good annual saving. For example, if one tin of baked beans usually cost you 80p per shop and you swap them in for an own-brand costing 38p, along with one tin of tuna costing £1.20 swapped for a tin costing 80p, you would be looking at an annual saving of £42.64, and that’s just through swapping two items!
Count the cost as you go
If you have a weekly budget in mind for your groceries, its often easier to stick to it by simply counting the cost of your shop as you go, with some supermarkets you can even complete your grocery shop online and collect it from store at no additional cost. This way, when you’re getting close to your limit, you can either take stock of the items in your trolley and put back those items that you really don’t need or you can substitute some for cheaper items.
Forget loyalty and shop around
Now, here at Budget Insurance we are all for supporting local businesses, but when it comes to the big supermarket it’s worth noting that where some shops such as Lidl, Netto and Aldi, Marks and Spencer and Waitrose, do have the same prices from store to store. Some of the other supermarkets display different prices depending on nearby competitors along with other factors such as offers. If you’re an online whizz it might be worth checking out the prices online before you visit the store, just to compare prices to ensure you are getting the best deal possible at that time.
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