Grocery prices slump to 'record low'

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Martyn Fisher

BY MARTYN FISHER

Grocery prices slump to 'record low'

Mushrooms and broccoli have dropped more than 13 per cent on the start of 2015, while onions, bananas and cucumbers have dropped more than 10 per cent

Grocery prices slump to 'record low'

Broccoli has come down significantly in price

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Grocery prices have dropped to their lowest level since one supermarket comparison website's records began.

Research conducted by mySupermarket.co.uk found that the cost of a basket of 35 popular products cost £84.83 in February 2016, the lowest recorded price since the mySupermarket Groceries Tracker was launched in late 2014.

It’s also the first time prices have dropped below the £85 mark, with some products dropping in price by almost 14 per cent compared with the year before. 

The low prices have been attributed to the supermarket price war continuing to drive competition among retailers, particularly with the recent announcement that Amazon customers will now be able to purchase Morrisons products via the online seller.

mySupermarket’s analysis showed the products that fell the most in price in February were onions and carrots, both down 6 per cent compared with the previous month.

Mushrooms and broccoli have also dropped more than 13 per cent in price compared to the beginning of 2015, while onions, bananas and cucumbers have dropped more than 10 per cent.

When compared to a year ago, the same basket of goods in February 2015 was 4 per cent lower, a saving of £3.76 per shop.

mySupermarket’s Groceries Tracker monitors the cost of the same 35 most commonly bought grocery products on a monthly basis.

Kim Ludlow, MD of mySupermarket.co.uk said: “This is great news for shoppers. We were delighted to see some items were down more than 10 per cent compared to this time last year, equating to some impressive savings.

“However, as always, we warn shoppers to be vigilant. The increased competition means each retailer will pull out all the stops to get you into their store. Prices will change regularly and it’s important to compare your entire basket before you shop to ensure you are getting the absolute best price every time.”

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