FTSE 100 close: London markets storm to two week high August 29, 2023 London’s premier index stormed to a two week high thanks as falling food inflation and hopes of a Chinese stimulus package lifted sentiment. The bluechip FTSE 100 ended 1.7 per cent higher at 7,464.99 while the midcap FTSE 250 rose 1.9 per cent to 18,468.59. Many markets around the world saw strong trading yesterday, when [...]
Trust in supermarkets at 10-year low like ‘dark days of horsemeat scandal’ August 29, 2023 Trust in supermarkets has plunged to its lowest level in nearly a decade as consumers continue to worry about high prices, despite food inflation showing signs of easing. In August the grocery sector received a trust score of +30 -on a scale of -100 to +100 -from British shoppers, a new study by Which? revealed [...]
Bunzl: Giant on a shopping spree with two acquisitions and bumped-up guidance August 29, 2023 Outsourcer buys firms in Poland and the Netherlands as it continues acquisition spree
Ocado unveils price cuts on 200 goods as shares rise slightly August 23, 2023 Ocado’s share price grew just under one per cent on Wednesday following news it would slash prices on 200 more goods to entice customers. In recent months the tech-driven supermarket, which is owned as part of a joint venture with M&S, has been distancing itself from its reputation as an upmarket grocer with the brand [...]
Cost of living crisis: 63 per cent of Brits now shop at discount grocery stores August 22, 2023 More than half of shoppers now shop at discount grocery stores as Brits continue to seek out bargains amid the cost of living crisis. According to new data released by NIQ, in the last four weeks some 63 per cent of the public shopped at value chains such as Aldi, B&M and Poundland, with over [...]
FTSE 100 close: Wage growth fuels rate fears as M&S soars and B&M drops on Wilko speculation August 15, 2023 London’s FTSE 100 ended Tuesday down more than 1.6 per cent, as record-breaking wage growth fueled speculation of a 15th straight Bank of England rate hike. The capital’s blue-chip index was down 1.63 per cent by close of play to to 7,384.94, weighed down by listed investment firm Abrdn, down three per cent, alongside Pheonix [...]
Grocery price inflation drops sharply to 12.7 per cent August 15, 2023 Grocery price inflation saw its second sharpest fall since 2008, falling 2.2 percentage points to 12.7 per cent for the four weeks to 6 August, new data shows. While food prices are still rising, some goods actually became cheaper, with shoppers paying £1.50 for four pints of milk, down from £1.69 in March, and a [...]
Food inflation slumps to lowest level this year but experts caution against declaring victory yet August 1, 2023 Food inflation has slipped to its lowest level this year and has fallen for the third month in a row, an encouraging signal that suggests the UK is through the worst of the cost of living crisis, a new survey out today shows. The cost of groceries climbed 13.4 per cent over the year to [...]
Can the supermarkets ever overcome accusations of profiteering? July 28, 2023 Food producers are unwilling to pass on price drops as they battle oscillating and chaotic costs for supplies that they have little control over.
Food promotions now make up 22.5 per cent of grocery sales – and it’s up a fifth from last year July 25, 2023 Promotions on food and other items now account for 22.5 per cent of grocery sales, as Brits continue to seek out bargains amid the cost of living crisis. The figure has risen from 20 per cent last year in the same period last year and is the highest over the past 12 months excluding Christmas and [...]