Every major supermarket in Britain has put their prices up above inflation in the last year – apart from one notable exception.
It was revealed on Wednesday (14/8) that inflation had risen back above the Bank of England’s 2 per cent target in the first increase of 2024 after months of steady declines.
The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation rose to 2.2 per cent in July, up from 2 per cent in June.
It represents the first time inflation has climbed since December, driven partly by a sharp drop in energy bills last July falling out of the annual calculations.
The latest figures mean that prices are rising faster across the country than in previous months, but still at a slower rate than in 2022 and 2023 when households and businesses were being squeezed during the peak of the cost crisis.
According to the latest Which? statistics, Sainsbury’s has the highest levels of inflation, with prices up 5.9 per cent year on year in the month of May.
It was followed by Morrisons at 3.4 per cent, with Tesco in third on 3.2 per cent.
Aldi were the only supermarket that is cheaper than a year ago – with inflation at -0.8 per cent, which is the first time Which? has recorded negative inflation for a supermarket in its tracker.
Related: Liz Truss ‘an unusual person’ who lacks emotional intelligence – Kwarteng