This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.bbc.co.uk/news/business-61558324

The article has changed 5 times. There is an RSS feed of changes available.

Version 0 Version 1
Grocery prices rise at the fastest rate since 2009 Fry up breakfast costs 40p more than last year
(about 2 hours later)
UK grocery prices are rising at their fastest rate since 2009, leaving people increasingly worried about the cost of the weekly shop, research suggests. The cost of a family fry up with toast, eggs, sausages, bacon and beans has risen 40p since last year, research suggests.
Grocery prices were up 7% in the past four weeks compared with a year ago, market research firm Kantar said. Picking up all the supplies for the fried breakfast now sets you back £6.83, says research company Kantar.
Food prices are now the second most important concern to families after spiralling energy bills, it said. It found UK grocery prices were rising at their fastest rate since 2009.
But the UK was still set to splash out on food and drink over the Platinum Jubilee bank holiday weekend, it said. Grocery prices were up 7% in the past four weeks compared with a year ago, leaving people increasingly worried about the cost of the weekly shop.
"Looking back at the Diamond Jubilee in 2012, we saw a 10% boost in supermarket sales during the week leading up to the festivities," said Fraser McKevitt, head of retail and consumer insight at the research firm. Food, fuel and energy costs have jumped recently in part due to the Ukraine war and it is squeezing household finances.
"We should never underestimate the appetite for a party, especially a royal one." Food prices are now the second most important concern to families after spiralling energy bills, Kantar said.
Food, fuel and energy costs have jumped recently in part due to the Ukraine war and it is squeezing households.
Energy bills push price rises to 40-year highEnergy bills push price rises to 40-year high
Bank chief in 'apocalyptic' warning on food pricesBank chief in 'apocalyptic' warning on food prices
According to Kantar, 22% of households now describe themselves as "struggling" to make ends meet, with the rising price of the weekly shop a concern for over nine in ten of these people. Why are prices rising so quickly?
According to Kantar, 22% of households now describe themselves as "struggling" to make ends meet, with the rising price of the weekly shop a concern for over nine in 10 of these people.
Food costs have jumped recently in part due to the Ukraine war.
Prices are going up fastest for products such as dog food, savoury snacks and fresh beef, it said, although they are falling for alcoholic spirits.Prices are going up fastest for products such as dog food, savoury snacks and fresh beef, it said, although they are falling for alcoholic spirits.
Mr McKevitt said: "People are really feeling the squeeze at the supermarket tills and they're having to stretch their budgets further to accommodate rising prices. "People are really feeling the squeeze at the supermarket tills and they're having to stretch their budgets further to accommodate rising prices," said Fraser McKevitt, Kantar's head of retail and consumer insight.
"To put the most recent numbers into context, if you were picking up supplies for a family fry up over the long weekend with toast, eggs, sausages, bacon, and beans it would cost you £6.83 - that's a significant 40p increase on last year." He said the "significant" rise in cost for a family fry-up puts the numbers into context.
It comes as separate research from Yougov showed that two in five Britons have been forced to reduce or stop spending on clothes, eating out, non-essential food items and takeaways over the last six months. It comes as separate research from YouGov found that two in five Britons have been forced to reduce or stop spending on clothes, eating out, non-essential food items and takeaways over the last six months.
Meanwhile, one in five have cut or stopped spending on day trips, holidays and fuel. Meanwhile, one in five has cut or stopped spending on day trips, holidays and fuel.
However, Mr McKevitt said that the four-day bank holiday weekend was likely to boost supermarket sales as people celebrated with friends and families and splashed out on alcohol, soft drinks, barbeque foods and desserts. Rising inflation
The latest inflation figures showed that UK prices are rising at their fastest rate for 40 years.
Inflation is the increase in the price of something over time. For example, if a loaf of bread costs £1 one year and £1.09 the next year, then that is an annual inflation rate of 9%.
The Bank of England has warned inflation might reach 10% within months.
The headline inflation rate is an average, and prices rise for different goods at different rates. One food industry boss has warned that food prices could rise by up to 15% this year.
Despite these pressures, the UK was still set to splash out on food and drink over the Platinum Jubilee bank holiday weekend, Mr McKevitt said.
He said that the four-day bank holiday weekend was likely to boost supermarket sales as people celebrated with friends and families and bought alcohol, soft drinks, barbeque foods and desserts.
According to Kantar, UK grocery sales fell by 4.4% in the 12 weeks to 15 May compared with the same period last year, when stay-at-home rules boosted sales.According to Kantar, UK grocery sales fell by 4.4% in the 12 weeks to 15 May compared with the same period last year, when stay-at-home rules boosted sales.
Discounter Lidl was the fastest growing grocery chain, with its sales increasing by 6% in the period. That was just ahead of rival Aldi whose sales were up 5.8%.Discounter Lidl was the fastest growing grocery chain, with its sales increasing by 6% in the period. That was just ahead of rival Aldi whose sales were up 5.8%.
Tesco remained the UK's biggest supermarket, expanding its market share share for the 17th month in a row to 27.4%.Tesco remained the UK's biggest supermarket, expanding its market share share for the 17th month in a row to 27.4%.