Brits made further cutbacks on grocery spending last month as inflation and the cost-of-living crunch continue to put a squeeze on household finances.
According to new figures from high-street bank Barclays, spending on groceries increased 7.1%, well below the latest ONS food price inflation rate (18.2%).
The survey found that 88% of shoppers said they are concerned about the impact of rising food prices on their household finances, and more than six in 10 (62%) are finding ways to reduce the cost of their weekly shop.
Subscribe to Grocery Gazette for free
Sign up here to get the latest grocery and food news each morning
In response to the UK government’s Spring Statement announcement that the Energy Price Guarantee will be extended beyond April, nearly six in 10 (59%) while consumers are glad about the extension, but are still worried about their ability to afford energy bills.
Meanwhile, over half (53%) of these value-seeking consumers are cutting down on luxuries and reats for themselves, while a proportion are planning meals in advance to avoid wasting food, or using vouchers to get money off their grocery bill (both 38%).
It comes as it was revealed that millions of Brits have made the permanent switch to ordering groceries exclusively online since the beginning of the pandemic in March 2020.
Additionally, as rising household bills continue to bite, over half (54%) of consumers say they are cutting down on discretionary spending, especially eating out at restaurants.
Increasing costs are also having a wider impact on hospitality spending: over a third (36%) are now cooking more at home instead of eating out, while a fifth (21%) are even avoiding social plans that involve eating out so they can save money.
“The below-inflation rise in grocery spending shows that Brits are still trying their hardest to shave money off their weekly shop, as energy bills continue to rise,” director at Barclays, Esme Harwood said.
“While predictions for the Coronation weekend are lacklustre, results from Mother’s Day are more encouraging, demonstrating that Brits are still taking advantage of one-off moments to go out and celebrate.”
