Grocery price inflation sets a record high

Grocery prices increased by 16.8% during the first 12 weeks of this year, adding more than €1,200 to annual grocery bills

Sales of supermarket own-label products have increased by 34.5% over the last year as people look to save money. Photograph: Getty Images

Grocery prices increased by 16.8% during the first 12 weeks of this year as more and more customers move to supermarket own-label products to save money, new figures show.

Data from analytics company Kantar shows that if Irish people don’t change their spending habits they could see an additional €1,211 added to their annual grocery bill as a result of this inflation. These figures are based on over 30,000 identical products being compared year-on-year.