As the cost of living crisis rages on, more people than ever are having to cut down when they go food shopping to save money.
A survey by the Office for National Statistics (ONS) has found that nearly half of adults have bought less food in the last fortnight due to increasing prices. The same survey also found food was the most common reason for increased overall outgoings every month.
Supermarket giants Tesco and Asda have also said they have noticed a reduction in the amount their customers are shopping. Asda has also told of customers who are watching the till total closely. Many are asking checkout staff to stop scanning their items when the total reaches a certain amount.
Switching to budget and own brand supermarket ranges is also a method being used by consumers to curb the costs of their supermarket shop. Other behavioural changes seen within larger supermarkets across the UK is customers buying less food yet visiting more frequently. This may be in an attempt to only buy what is needed and not spend more by assuming what may be wanted or needed in coming days.
The ONS also said supermarkets said their customers are spending less on their food shop due to rising costs of living. In May of this year, overall retail sales fell by 0.5%. In the same month, supermarket specific sales dropped by 1.5%. Specialist shops such as greengrocers and butchers say a whopping 2.2% fall in sales in May also.
UK inflation is currently at its highest level since 1982, at a staggering 9.1%. This has caused prices to rise at their fastest rate for 40 years, with the general cost of living soaring. This has caused a huge strain on finances up and down the country.
This survey has shown cutting back on food shopping is the greatest evidence of the effect of the rising cost of living on the finances of households everywhere. Food is a necessity for everyone and with 56% of respondents saying they had bought fewer groceries in the last fortnight, and the same proportion of people claiming to have skipped meals to save money, shows the real strain people are facing.
Have you had to cut back when food shopping? We want to hear your thoughts.
I think the supermarkets should do more to help and lower their profit margin :/