"Consumers are enjoying a golden period of cheaper groceries with like-for-like prices falling every month since September 2014," says Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel.
Commenting on the latest grocery share figures from Kantar Worldpanel, Mr McKevitt explained: "Nearly two years of falling prices mean the average household is spending £78.10 a week in the supermarket, so consumers have annually saved more than £400 than if prices had risen at the same rate as the last decade."
Kantar attributes the fall in food prices to the impact of discounters on the market and the supermarket price war they triggered, alongside major commodity price deflation in some categories such as fresh and processed pork, butter and crisps.
Falling farm-gate prices across nearly all sectors led to total income from farming (Tiff) for UK farmers falling by £1.5bn in 2015 according to figures released by the Department for Environment Food and Rural Affairs (Defra) last week.
Market round-up
United Auctions sold 887 store heifers at Stirling on Wednesday to a top of 287.7p per kg and an average of 215.4p (+7.1p on the week), while 1226 store, beef-bred bullocks peaked at 295.1p and levelled at 222.4p (+4.7p). One-hundred-and-forty-seven store, B&W bullocks sold to 163p and averaged 134.4p (-4.5p).
In the rough ring 64 beef cows averaged 127.8p and 3 dairy cows levelled at 87.7p.
C&D Auction Marts Ltd sold 21 prime heifers in Dumfries on Wednesday to a top of 212.5p and an average of 185p.
There were 52 OTM cattle presented in the rough ring when beef cows averaged 115.2p and dairy cows levelled at 88.4p.
The firm also sold 109 prime hoggs to a top of £93.50 per head and 177p per kg to average 165p (+12.2p), while 29 prime lambs peaked at £106 and 243p to level at 215p.
The 134 cast sheep forward saw heavy ewes sell to £116.50 for Bleu de Maine and average £73.47, while light ewes peaked at £77.50 for Blackfaces and levelled at £56.45.
Messrs Craig Wilson Ltd sold 663 prime hoggs in Newton Stewart on Wednesday to a top of £89 and 201.1p to average 180.2p (+14.1p), while 85 prime lambs peaked at £103 and 228.9p to level at 217.2p (+20.1p).
There were also 146 cast sheep forward that were £5 to £8 sharper on the week with ewes selling to £100 for Texel crosses and £72 for Blackfaces, while rams met the dearest trade this season peaking at £142 for a pen of Texels.
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