Consumer Guide: How to navigate saving money with discounts during Inflation

Inflation has been a topic of concern over the last few years,across Europe and the UK. The UK has experienced a notable increase in the Consumer Price Index (CPI) and according to the data from Statista, the CPI has been steadily increasing with the cost of goods and services being hit the hardest. Our savings experts here at BravoVoucher have analysed inflation data to help explain some of the consequences of inflation as well as present some possible solutions on how to save money. 

• Inflation Data 
• Increase in Prices 
• Food Prices & Trends 
• Money Saving Solutions
• Deal Savings Report

Inflation Data in Europe: Eurozone Trend Inflation

According to the data analysed by our savings experts from Statista, the inflation rate in the UK has been steadily increasing over the past few years with a noticeable spike in October 2022. We can contribute a few factors to the inflation increase. For example changes in the cost of production, demand for goods and services, as well as government policies. As prices soar across various categories, consumers find it increasingly challenging to manage their regular expenses.

Increase in Prices:  Cost Push and Demand Pull factors for Inflation Growth

With inflation on the rise, consumers are being heavily impacted in various areas. In fact, one significant impact of rising inflation in the UK has been the increase in prices, particularly in categories like food and restaurants. The cost of living has also been on the rise, with essentials like electricity and heating becoming more expensive for the average consumer. 

The website Numbeo provides statistics on the cost of living in the UK. Here are the categories with the most significant increase in prices. 

1. Rent per Month 
2. Markets
3. Restaurants 
4. Transportation 

As we can see from this graph, restaurants and markets have a collective greater increase than the other categories. The increasing prices of raw materials like eggs and milk have not only had an impact on markets but on restaurants as well.

Food inflation: UK vs EU

For a better understanding of the large impact inflation has had on the price of food and beverages here is another graph that compares CPIH (general index of consumer prices in the UK) with food prices. Although we can see the annual inflation rate slowing, food prices are still experiencing sharp rises in the last 2 years. The overall price of food and non-alcoholic beverages rose around 25% between January 2022 and January 2024. 

Food Prices & Trends: How has Inflation affected Food Prices

In the past few years, consumers have shifted their grocery shopping behaviour due to escalating food prices. The trend now leads towards purchasing food with discounts. According to sources like the Financial Times, the price changes have reached alarmingly high levels. However, brands within the sector have also played a major role in alleviating the impact. At BravoVoucher, we see the challenges consumers face and aim to play a part in the solution by providing discount codes to use on food retailers and restaurants.

BravoVoucher, part of the Bravo Savings Network, owned by Webravo S.R.L,  was founded in 2017. Our mission is to provide online users with thousands of verified discount codes and offers from major e-commerce sites. In 2023, we noticed a spike in searches related to savings and discount offers supported by data from Google (Google Trends) and Seo platforms like Ahrefs. Comparing that information with the previous graphs we can notice that these searches were happening around major increases in prices, especially among the food category.

In the image below we can see searches related to savings that reached peaks in 2023 compared to the past 5 years.

Money Savings Solutions: How to Protect Savings from Inflation in UK

To navigate the rising (and changing) trend in prices, consumers can focus on saving. Our savings experts recommend a few strategies to help users make thriftier choices when it comes to food shopping. 

Here are a few ideas: 

1. Use Online Coupons

An effective approach to saving is utilising discount codes. At BravoVoucher, we work hard to validate coupons and discounts that online users can use on their everyday purchases. One category in particular is Food and Beverage. We offer coupons for weekly shopping, restaurants and even delivery. Users can simply redeem a voucher code or claim an offer to enjoy significant savings on their total order. 

2. Smart Shopping

In addition to online coupons and discounts, there are other habits that can contribute to Smart Shopping. Many retailers offer loyalty programs or rewards cards. These are great saving hacks for when you are online shopping! These programs allow users to earn points or discounts for future purchases or even early access to sale events like Black Friday. You don’t have to go far to take advantage of these smart shopping ideas. Many of these can be found right here on BravoVoucher! 

3. Budget Planning 

Another savvy practice consumers are taking advantage of is budget planning. We suggest carving out a bit of time, depending on one’s needs, from once a week to once a month, and take a look the over-all money-spending habits. From there, it will be easier to allocate funds for expenses while staying within the required limits. There will be no more questions about how or where the money is going! 

4. Try Different Transportation 

Beyond groceries, cutting fuel costs can play a vital role in helping consumers save. Carpooling with coworkers, using public transportation, or even opting for energy-efficient vehicles contribute to both financial savings and environmental well-being.

Deal Savings Report:  How much to save money on groceries and food during inflation

In conclusion, our recent study has found that British consumers have achieved significant savings through the use of discount codes and promotional offers, especially regarding food stores and restaurants. Thanks to the promotions and voucher codes from BravoVoucher, users saved more than £200,000 in 2023.

Our analysis revealed that those who took advantage of the offers relating to food shops, saved on average £30. In regards to offers linked to restaurants, users saved an average of £10. 

At BravoVoucher, we will continue to help users save money on their purchases, not only on food or restaurant items but across many essential categories to help relieve the effects of inflation. Take advantage of our offers today and see how much you can save!