The cost of the average weekly grocery shop has fallen for the fourth month in a row to reach its lowest level in over a year, data released today shows.
Research by price comparison site MySupermarket found that a basket of 35 staple products across the major grocers cost £84.36 in March, down 3.8 per cent from £87.70 a year ago.
The company said this was the lowest recorded price since its Groceries Tracker was launched in December 2014. Prices compared with the previous month fell by 0.55 per cent, as competition among the grocers continued apace.
Broccoli, bananas and onions experienced the biggest drop in price, with broccoli now nearly 27 per cent cheaper than they were in February.
However other fresh grocery products rose in cost, with carrots and mushrooms up by 5.9 per cent and 2.8 per cent respectively.
MySupermarket managing director Kim Ludlow welcomed the price decrease but warned that changes could create uncertainty for consumers.
“One thing for certain is that you need to ensure you are getting the best possible price for your shop. While prices continue to drop, there are several key products that are rising, or fluctuating month to month. It’s easy to feel overwhelmed by prices and promotions in-store,” he said.
The most recent data from the British Retail Consortium’s (BRC) showed food prices returned to deflationary territory in February, falling 0.4 per cent from January’s 0.1 per cent rise.
Competition between the major supermarkets has remained fierce this year, with Tesco last month launching a new own brand discount range to rival the discounters. Meanwhile on Friday Sainsbury’s won a four month battle to bolster the business by buying Home Retail Group after the Argos-owner’s board approved offer.