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Grocery prices fall in July

New figures have shown that grocery prices fell by 1% month on month in July.

GENERAL MERCHANDISE

Grocery prices fall in July

New figures have shown that grocery prices fell by 1% month on month in July.

According to data from groceries website MySupermarket.co.uk, prices dropped from £86.84 for an average basket of products in June to £86.11 in July. This follows a small rise in June which was the first increase in 2015.

The same basket in July 2014 was 6% more expensive at £91.39, resulting in a saving for shoppers of over £5.

MySupermarket’s Groceries Tracker monitors the cost of the same 35 most commonly bought grocery products.

The products that decreased the most in July from June were bananas, down 4%, fresh peppers, also down 4%, and tomatoes, down 3%. The items that increased the most in the last month included broccoli, up 3%, mushrooms, up 3%, and deli bacon & ham, up 2%.

The research also reveals that the price of the most popular ice creams in July fell by 4%. The study of the most popular 40 branded ice creams shows significant drops compared to July 2014. Cornetto Mint Cones were down 18% to £1.51, Oreo Vanilla Ice Cream Cones dropped 17% to £1.79 while Magnum Mini Double Caramel & Double Chocolate fell 16% to £2.74.

Gilad Simhony, chief executive of MySupermarket, said: ‘’The last year has seen a huge fall in the cost of grocery essentials and a weekly saving of over £5 will be welcome news for shoppers who continue to look for the best value when comparing prices. Out of the 35 products that make up our weekly basket only apples and baked beans have increased. Regular buyers of vegetables and chicken should be particularly pleased as these products have fallen the most in the last 12 months.’’

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