UK grocery product inflation fell for the first time in nearly two years in November but remained close to record highs, providing little relief for consumers ahead of the key Christmas shopping period, industry data showed on Tuesday. 6).
Kantar, a market researcher, said merchandise inflation for the four weeks to Nov. 27 was 14.6%, down 0.1 percentage point from October’s record high, marking the first drop in 21 months.
“Inflation on supermarkets still has a long way to go and, based on the current rate, consumers will have to spend an extra £60 ($73) in December to buy the same items as last year,” said Fraser McKevitt, head from Kantar’s retail and consumption department
The cost of a traditional Christmas dinner for four reached £31, up 9.3% from a year earlier, McKevitt said.
Prices are rising fastest for products such as milk, dog food and butter, Kantar said.
The researcher said grocery sales rose 5.9% year-on-year in the 12 weeks to Nov. 27, masking a drop in volumes when inflation is factored in.
It also highlighted further evidence of the coping strategies consumers are adopting to mitigate rising costs, with private label sales now up 11.7% year-on-year and sales of lower value private label lines up 46%. .3%.
Source: CNN Brasil
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