Summary
In Northern Ireland, food prices are rising and are likely to continue increasing this year. The Henderson Group notes that these high costs are changing shopping habits, with people visiting stores less frequently but buying more per visit.
Key Facts
- Food and drink prices in Northern Ireland increased by 4.5% in the year leading up to June.
- This rate is the highest since February 2024 but lower than early 2023 levels.
- The Henderson Group, which includes Spar and Vivo, employs nearly 6,000 people in Northern Ireland.
- Customers are shopping less often but buying more, influenced by cost-conscious behavior.
- Rising costs of cocoa, coffee, and butter contribute to higher shelf prices.
- The company's wage expenses rose significantly after a government-mandated minimum wage increase.
- Energy costs have also risen notably compared to 2022.
- The Henderson Group regularly reviews prices and works with suppliers to manage costs.
