The cost of a traditional Christmas dinner for four is up by just 1.3% on last year to £31.71, well below overall grocery price inflation, according to latest figures.
In good news for hard-pressed consumers, fierce competition between the supermarkets is seeing some items on the festive plate actually falling in price, such as Brussels sprouts which are now 4.3% cheaper than 12 months ago, analysts Kantar said.
Christmas pudding is 2.4% cheaper than last December, while sparkling wine costs 5.9% less on average.
Overall, grocery inflation slowed again in November to 9.1%, down from October’s 9.7%.
Take-home supermarket sales are expected to surpass £13 billion for the first time ever this December, with Friday December 22 set to be the busiest day for festive grocery shopping.
Fraser McKevitt, head of retail and consumer insight at Kantar, said: “The scene is set for record-breaking spend through the supermarket tills this Christmas.
“The festive period is always a bumper one for the grocers, with consumers buying on average 10% more items than in a typical month. Some of the increase, of course, will also be driven by the ongoing price inflation we’ve seen this year.”
Customer spending on offers hit its highest level in more than two years over the latest period at 28.4%, with brands benefiting the most to increase sales by 6.5% compared with 6.4% for retailers’ own-brand lines.
Mr McKevitt added: “The amount of money spent on deals usually leaps in the run-up to Christmas, but this year is already looking a bit different.
“We’re well above 2022 levels, with customers making an additional £180 million in savings this November versus 12 months ago.”
Lidl was again the fastest-growing grocer, boosting sales by 14.2% over the 12 weeks to November 26 to take a record high market share of 7.8%.
