Kantar said that this high level of inflation could see the average grocery spend in the 12 weeks to October 1 rise from €1,677 to €1,853.

Emer Healy, business development director at Kantar, said that despite this being the lowest rate seen since September 2022, “inflation still remains high”.

Kantar said the main driving factor behind the increase in value of sales remains increasing prices, and not increased purchasing.

Supermarkets’ own-label products continue to see a higher increase in sales over branded options as people look to save money.

Own-label product sales increased by 11.5% in the 12 weeks up to October 1 compared to brand names, which grew by 5.1%.

The value of own-label sales grew by 13%, with Irish shoppers spending an additional €7.7m year-on-year.

Dunnes Stores receives the highest share of consumer spend among the large supermarket chains in the country at 23.3% as of the start of the month.

Tesco receives 22.5% of the total consumer spend, followed by SuperValu at 20.6%. Lidl holds a 13.5% share, while Aldi holds 12.3%.