Households are being warned that the cost of food could rise by as much as six per cent year-on-year by December
Families are being warned to brace themselves for another potentially devastating surge in food prices, with experts predicting grocery costs could soar by as much as six per cent (year-on-year) by Christmas.
Food inflation is already running at around four per cent, and the latest forecasts suggest it will climb even higher by the end of the year. That could leave the average UK household forking out an extra £275 on food alone.
Research reveals that food prices jumped 5.2 per cent in July compared to the same time last year – the steepest increase since early 2023. Around 14 million people in the UK are now battling to afford food, and online searches for ‘cheap food’ have rocketed across the UK in the past month.
Fiona Peake, Consumer Money Expert at Ocean Finance, says: “We’re back on the rollercoaster of food inflation. Prices soared after the war in Ukraine, settled briefly last year, and now we’re seeing another rise. If this trend continues, families could be facing a six per cent increase by Christmas.
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“The items seeing the steepest price hikes are often the ones we rely on most. Fresh fruit and vegetables, dairy, and meat are particularly exposed because their prices depend heavily on energy, labour, and transport costs.”, reports Bristol Live.
“Many households are now in a position where even a small change in their weekly spend is enough to tip the balance.
“Unfortunately, food isn’t the only concern. Energy bills and fuel prices are climbing, and some broadband and mobile providers are reinstating inflation-linked price hikes too. Households need to act now. If you leave it too late, you’ll feel the full impact by winter.
“If you’re finding it hard to keep up with day-to-day costs, get in touch with your energy supplier, your council, or your lender. Many offer hardship schemes, but they won’t know you need help unless you ask.”
Fiona reveals six straightforward methods to cut costs at the supermarket:
Verify if you’re overspending on delivery: “If you shop online, check the small print for extra charges. If you spend under £40, Asda adds £3, and Tesco adds £4 on top of the delivery fee. Adding a low-cost item could help you save. It’s worth checking the latest prices to help you find the best value.”
Browse 30 minutes before closing: “The best yellow sticker bargains are found just before stores shut. Some supermarkets are even testing free giveaway schemes for unsold items after 9.30pm. Pop in late and you could grab big savings.”
Utilise loyalty cards with cashback apps: “Many supermarket loyalty schemes offer member-only deals, discounts, or price-match schemes that can knock down your total. Combine them with cashback apps like Shopmium and you could get money off without changing where you shop.”
Check the frozen aisle for branded bargains: “You’ll often find the exact same branded items, like Birds Eye chicken or Quorn, for less in the frozen aisle. Plus, frozen veg lasts longer, so you waste less.”
Ditch the weekly shop: “Weekly shops sound sensible, but they often lead to waste. Try shopping every few days instead. You’ll make better use of what you’ve got and grab more yellow-sticker bargains while you’re at it.”
Be wary of multipacks: “Buying in bulk isn’t always cheaper. Retailers know we assume bulk equals value, but single units on offer can work out cheaper. Always check the price per 100g or per item before you decide.”