Grocery price inflation reached a new record high in March as pressure on shoppers’ pockets continues to grow.
Research group Kantar reported that grocery price inflation in Ireland rose to 16.8pc in the 12 weeks to March 19.
This marked an increase of 0.4pc from the previous 12-week period.
Total take-home grocery sales rose by 9.5pc during this time.
In the four weeks to March 19, the value of Irish grocery sales also jumped by 13.3pc, up from 10.2pc the month before.
Shoppers are now spending an additional €119.6m year-on-year, Kantar reported.
Supermarkets recorded the highest footfall since March 2020 in recent weeks as consumers celebrated St Patrick’s Day, Mother’s Day and Ireland’s Six Nations victory.
However, Kantar attributed the surge in spend in recent weeks to the impact of rising costs on supermarket shelves.
“Although value sales are up significantly, grocery price inflation is still the driving factor rather than just increased spending,” Kantar senior retail analyst Emer Healy said.
“Grocery inflation continues to rise and now stands at 16.8pc, with the annual grocery bill set to rise by €1,211 if consumers don’t make changes to their shopping habits.”
Over the past year, consumers have already made switches to lower priced own-brand alternatives in their local supermarkets in an attempt to cut costs, with purchases of these own-label products rising by 13.5pc year-on-year.
Shoppers are now spending €18m more this year on value own label, the cheapest offering in supermarkets.
Guinness was also in high demand throughout the month of March, with sales rising 6.7pc.
Shoppers spent an additional €3.8m on Easter chocolate last month.
Sales of savoury snacks were also on the rise in March, reaching a total of €3.5m last month.
Shoppers also stocked up on soft drinks, with overall sales rising to €4.4m last month.
Online grocery sales rose slightly across the 12-week period, up 2.6pc.
This reflected an increased spend of €3.9m compared with the same time last year.
This performance was driven by more frequent online orders, as well as an increase in average prices for products.
Overall, Dunnes Stores retained the top spot in the Irish grocery market, with a 23.2pc market share.
Tesco followed, with a 22.1pc market share, with SuperValu rounding out the top three, with a market share of 20.6pc.
SuperValu shoppers made the most trips in-store compared with its competitors, Kantar said.
SuperValu customers made an average of 21.7 trips over the 12-week period.
Lidl now holds a 13.3pc market share, while rival discounter Aldi’s market share rose to 12.3pc last month.