SHOP PRICE RISES REACH TEN YEAR HIGH: HERE’S HOW TO SLASH COSTS AT THE SUPERMARKET
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Shop prices rose at their fastest rate in more than a decade last month, according to the British Retail Consortium. Data shows that shop price inflation jumped to 1.8%, the highest figure since November 2011, due to increasing costs of fresh food and other goods like beauty products and furniture.
With millions of Brits in the midst of a cost of living crisis, keeping the cost of your food shop down has never been more important. Luckily, the experts at money.co.uk have put together a handy guide with all the top tips and tricks when it comes to shopping smart.
James Andrews, Senior Personal Finance Editor at money.co.uk, said: “With prices soaring across the board, the need to cut costs has rarely been higher. The good news is that there are a fair few ways to chop the cost of your supermarket shop.
“One way to get ahead is by taking advantage of loyalty schemes. Nectar and Tesco Clubcard holders use mobile apps to collect points, which can be redeemed for discounts. If you shop at these stores usually, then it makes sense to sign up and rack up points while you’re there. Tesco has also introduced ‘Clubcard Prices’ seeing holders pay a fair whack less for everything from meal deals to shampoo.
“Vouchers and discount codes also allow you to shave valuable pounds and pennies off your bill at shops including Aldi, Asda, Tesco and Morrisons. These are often made available to parents and caregivers to help with food costs. To find out if you’re eligible just contact your child’s school.
“Similarly, discount codes and introductory offers are a great way to earn useful discounts. You can usually find these on supermarket websites or in the store magazines that you see at the shop’s entrance and exit, so it’s always worth grabbing a copy.
“If you’re shopping online, then you have the benefit of easily comparing prices. Spend some time looking at each supermarket’s website to see which has the best prices. You could even do the same shop at multiple stores and then compare the total bills to see how much you could save.
“When shopping at your local supermarket, it’s worth doing some detective work to find out when the discount stickers are added to your favourite items. You can end up bagging top bargains by shopping smart and going at the right time, which is usually a few hours before closing time.
“You should also check what you have at home before going shopping to ensure that you’re not overbuying and actually making the most of your purchases. Use the items you already have as the basis for meals for the week and get the rest of the ingredients at the supermarket.
“Lastly, avoid being tied to one brand. Shops like Waitrose and M&S were once the market leaders for quality food, however, thanks to the rise of shops like Lidl and Aldi, you can get good quality groceries at much lower prices. Believe it or not, own-brand versions of products are often made in the same factory – with the same companies supplying the likes of Aldi as well as Waitrose – so it’s worth giving them a go.”
