Interactive Investor

Frozen food soars in popularity

14th April 2023 09:24

by Myron Jobson from interactive investor

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Shopping baskets continue to evolve amid fight against cost-of-living storm.

Rising inflation UK food prices 600

Commenting on data on shopping trends by Kantar, as reported by the BBC, Myron Jobson, Senior Personal Finance Analyst, interactive investor, says: “Shoppers are increasingly opting to buy frozen instead of fresh as part of efforts to quell the devastating impact of sizzling-hot inflation on their finances. Choosing frozen produce also allows you to use as much or as little food without the rest of the pack going past its best, which reduces wastage and saves money.

“Times are hard for UK consumers, and most of us are feeling the force of inflation on our finances most through our spending on groceries. Many have been forced to alter their shopping habits to withstand the crippling force of the cost-of-living storm. Baskets are getting smaller and more of us are ditching premium brands for cheaper alternatives, while many are reducing spend on nice-to-have items. Shoppers are also switching to discounters such as Aldi and Lidl in a bid to save where they can.”

“In the new world of spiralling costs, just getting by has become the norm for many households. It remains important to actively review your budget and make necessary changes to maintain financial resilience. This means that many household will need to budget or more carefully monitor their weekly supermarket shop.”

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