THE price of essential grocery items are continuing to fall but shoppers and residents in Fermanagh and across the North are still facing “significant pressures” to support their households.
While the cost of living crisis is continuing to be prominent in today’s society, it has recently been revealed that the rate at which prices on grocery items in shops are continuing to gradually fall.
Retail analyst giant, Kantar, confirmed that shoppers in the North have spent an estimated £139 million on supermarket’s own-label ranges from June 2023 to June 2024.
“This shows clearly how brands are still an important choice for Irish consumers,” Kantar’s business development director, Emer Healy, told the ‘Irish News’.
“Although inflation levels are falling, consumers in Northern Ireland are still facing significant pressures on their households budgets set to rise by 476 from £5,600 to £6,076.”
In a further and detailed analysis, it has been revealed that Tesco is continuing to lead the way as the largest grocer and supermarket in the North.
Kantar reports that Tesco controls 35.3 per cent share of the market in the North. They’re well ahead of Sainsbury’s and Asda, which is on 16.9 per cent and 16.2 per cent respectively.
For the first time in three years, following on from the Covid-19 pandemic, inflation levels have hit the 2 per cent mark, which has been the target set out by the UK Government.
Former Prime Minister Rishi Sunak, was pleased with the inflation rate results.
“I know that we’ve had lots of shocks, inflation putting up people’s bills,” Mr Sunak told the ‘Financial Times’.
“We’ve stuck to a plan, taking action that wasn’t always easy but we got there.
“Inflation is back to target and that means people will start to feel the benefits and ease some of the burdens on the cost of living.”
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