UK Supermarkets See Own-Label Sales Grow Faster as Food Prices Soar

In the last year, food prices have increased by over 19% and are outpacing the broader inflation rate, adding strain to household budgets.

The latest data shows that own-label sales grew by 14.1% while branded goods grew by 7.1%.

In the last four weeks, the volume share of own-label sales rose to 63.3% in the fast-moving consumer goods' category, versus 62.1% in 2022.

Food retailers have said they expect prices to rise in 2023 but with the rate of inflation declining, they hope to mitigate the impact on consumers.

The competition regulator is examining supermarkets' earnings to identify supply chains that need closer scrutiny to tackle food price inflation.