UK food inflation hits new high – study – RT Business News

UK food prices have risen to their highest level in fourteen years, London-based consultancy Kantar said in a study published on Tuesday.

Grocery price inflation has hit 11.6% over the past four weeks, the highest level since we started tracking data this way in 2008. As expected, we have now reached a new spike in grocery price inflation, with products like butter, milk and poultry in particular seeing some of the biggest jumpsSay Kantar analysts.

According to the consultancy, this means the average annual grocery bill will rise by £533 ($640), or £10.25 ($12.32) per week.

Kantar says soaring prices are pushing Britons to change their shopping habits, for example, “shop between retailers to find the best value productsas well as favoring budget product categories over well-known brands.

Extent of damage to UK businesses from anti-Russian sanctions revealed

It’s no surprise that we see homebuyers altering their lifestyles to meet the additional demands placed on their household budgets. Own brand ranges are at record levels of popularity, with sales up 7.3% and holding 51.6% of the market over branded products, the largest share we have ever recorded.”

For more stories on economics and finance, visit RT’s business section

You can share this story on social media:


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button