Inflation has already hit 8pc at supermarkets: UBS

Carrie LaFrenzSenior reporter

Updated Oct 17, 2022 – 11.01am, first published at 5.00am

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Food inflation is rising at a faster rate than expected across fresh and dry grocery foods, with multiple price rises by suppliers this year being passed on to shoppers, supporting sales growth at supermarket giants Coles Group and Woolworths throughout 2023.

A key finding in the UBS consumer team’s latest supermarkets research is that the rate of food price rises has stepped up markedly again in the September quarter, with fresh food up 9 per cent, and dry goods up 7.7 per cent. Woolworths’ food inflation rate is slightly higher than Coles.

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.