Grocery price inflation rose to 17.1% in the four weeks to 19 February, the highest level ever recorded by Kantar.
Overall take-home grocery sales also increased by 8.8% in the four week period, and by 8.1% over the 12 weeks.
This comes as February marks a full year since monthly grocery inflation climbed above 4%.
Kantar head of retail and consumer insight, Fraser McKevitt said that rising inflation is “having a big impact on people’s lives.”
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“Our latest research shows that grocery price inflation is the second most important financial issue for the public behind energy costs, with two-thirds of people concerned by food and drink prices, above public sector strikes and climate change.”
A recent survey by Kantar saw a quarter of participants admitting that they were struggling financially, in comparison to one in five the same time last year.
McKevitt said “the numbers speak for themselves,” adding that if people don’t change the way they buy groceries, “households are facing an £811 increase to their average annual bill.”
He added that despite these challanges, consumers continued to celebrate Valentine’s Day this year, however “decided to show their love at home,” trading down and purchasing food from the UK’s leading supermarkets to save on costs.
“Supermarket sales of steak rose by a quarter in the seven days to 14 February compared to the previous week, while chilled ready meal sales were nearly one third higher. Sparkling wine sales also doubled, and an additional £5 million was spent on boxed chocolates.”
