Supermarkets Tesco PLC (LSE:TSCO) and J Sainsbury PLC (LSE:SBRY) have raised prices on some own brand and budget ranges by as much as 70% this year, according to a new monthly price tracker.
Consumer rights group Which? launched its new tracker showing data from what it said was tens of thousands of food and drink sold in October by the two listed grocers, the two largest chains in the UK, and six others big groups, Aldi, Asda, Lidl, Morrisons, Ocado and Waitrose.
Overall supermarket inflation was 15% in October compared to a year earlier, according to the tracker, which ties in with other grocery inflation research from Kantar and comes at a time where it is claimed that supermarkets are not passing enough profit onto farmers.
On average, prices for supermarket own brand and budget ranges jumped 18% year over year, compared to around 13% for premium own brand ranges and 12% for branded foods.
Own brand and budget items, which are typically cheaper, often rose much more sharply, said Which? as it called for supermarkets to ensure they are more widely available throughout all branches.
Among the supposed budget ranges, Tesco’s 200g pot of Creamfields Soft Cheese was the biggest riser, rocketing 72% to 84p, while Sainsbury’s 1kg Simply Muesli leapt 70% to £2.03.
Looking at the 20 worst budget products for inflation across the supermarkets for the same period, the researchers found several other Tesco products, including chicken Kievs, orange juice and a pack of small pears all soaring more than 60% over the year.
Sainsbury’s was also the list of the worst inflation of budget items, with two-litre sparkling and still waters chicken Kyiv and soft cheese all jumping over 50% higher.
Which? found that mid-priced own-brand products were often the supermarket prices that had risen the most.
This is where the largest rise overall was found, with Waitrose hiking its chocolate chip shortbread 17% to £2.25, though the supermarket chain owned by John Lewis & Partners was found to have some of the lowest inflation overall.
Discounters Aldi and Lidl, meanwhile, had some of the worst inflation, with Aldi averaging 19.6% and Lidl 19%, yet were still generally the cheapest of the big chains overall.
The discounters were followed by Asda at 15.2%, Morrisons with 14.4%, Waitrose at 14.2%, Sainsburys at 13.7% and Tesco with 12.6%, while the Ocado UK business, a joint venture between Ocado Group PLC (LSE:OCDO) and Marks and Spencer Group PLC (LSE:MKS), had the least inflation overall, at 10.3%.
Sue Davies, head of food policy at Which?, said: “Our inflation tracker lays bare the shocking scale of soaring food and drink prices – including on budget and own-brand products. While the data paints a bleak picture, we hope the tracker will help millions of people find the best possible value with their weekly shop during the cost of living crisis.
“We know the big supermarkets have the ability to take action and make a real difference to people struggling through the worst cost of living crisis in decades. That’s why we’re calling on them to ensure everyone has easy access to basic, affordable food lines at a store near them, can easily compare the price of products to get the best value and that promotions are targeted at supporting people most in need.”