Prices of supermarket own-brand and budget products have increased more than premium and branded foods during the cost-of-living crisis, a recent study has revealed.
Which? tracked annual inflation on tens of thousands of food and drink products across seven months at eight major supermarkets – Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose – to find that own-brand and budget ranges have gone up by as much as 18 per cent as compared to around 13 per cent for premium own-brand ranges and 12 per cent for branded items.
Many households have increasingly turned to cheaper products to offset soaring bills in the cost-of-living crisis. Latest Kantar figures show own-label sales are up 11.7 per cent year on year while the cheapest value own-label lines are up 46.3 per cent.
According to Which?, Sainsbury’s groceries saw some of the highest inflation on budget items with prices of some item going up by over 50 per cent.
According to Which? findings, discounters Aldi (up 19.6 per cent) and Lidl (19 per cent), which are considered the cheapest of the big supermarket chains, saw the worst supermarkets for overall inflation on food and drink.
Sue Davies, Which? head of food policy, said: “Our inflation tracker lays bare the shocking scale of soaring food and drink prices – including on budget and own-brand products.
“We know the big supermarkets have the ability to take action and make a real difference to people struggling through the worst cost of living crisis in decades.
“That’s why we’re calling on them to ensure everyone has easy access to basic, affordable food lines at a store near them, can easily compare the price of products to get the best value and that promotions are targeted at supporting people most in need.”
