Grocery price inflation has now reached its lowest level in two years after falling for the eleventh month in a row in March 2024, according to latest Kantar figures.
In Ireland, grocery price inflation rose by 3.7% in the 12 weeks to March 17, 2024, which is down a significant 16% when compared to the same period last year.
However, inflation remains the main driver of increased spending on grocery items with Irish shoppers still opting for products sold on promotion, Kantar said.
“Shoppers in Ireland are still on the hunt for value with over 25% of value sales coming from promotions,” business development director at Kantar, Emer Healy said.
Grocery prices
In total, Irish shoppers spent €1.1 billion on take-home groceries in the four weeks to March 17, 2024. This is an additional €47.8 million compared to the same period last year.
The average price per pack rose by 4% last month. The increase in value sales is mainly due to grocery price inflation rather than more spending by Irish shoppers, Kantar said.
Almost half of all Irish households purchased Easter eggs last month, which is 13.1% more than last year, spending a total of €24.6 million. This is an additional €9.3 million on 2023.
Over 51% of value sales of Easter eggs were sold on promotion. Many shoppers also opted for other popular Easter treats, spending €1.1 million on hot cross buns.
During the four-week period, shoppers spent an additional €80.5 million on own-label products, and an extra €172 million on premium own-label products than last year.
Online sales were up by 16.7% with shoppers spending an additional €26.5 million. New shoppers, alongside larger trips, boosted online’s overall performance by €16.3 million.