Shop price inflation hits highest rate in more than a decade March 2, 2022 Shop price annual inflation surged to the highest rate since November 2011 last month, as households’ concerns about the cost of living increases. The rate hit 1.8 per cent in February, an increase from 1.5 per cent in January, according to the British Retail Consortium (BRC) and NielsenIQ. Non-food inflation surged to 1.3 per cent [...]
Sainsbury’s to shut 200 cafes as it eyes more Starbucks in stores March 1, 2022 Sainsbury’s has announced it will close 200 cafes in its stores this year as it attempts to rival discount retailers. The supermarket said 200 Sainsbury’s cafes will close to customers in the spring this year while it will roll out 30 food halls and 30 Starbucks cafes. Around 2,000 staff will be impacted by the [...]
Discount retailers benefit from cost of living crunch as shoppers head to Aldi and Lidl March 1, 2022 Grocery price inflation hit a new high of 4.3 per cent last month, with budget supermarkets luring shoppers in as the cost of living intensifies. Fresh data from Kantar reveals the fastest rate of inflation since September 2013, with the exception of the start of the pandemic when households panic bought essentials. Aldi and Lidl [...]
ABF and Primark sales to surpass pre-Covid levels as consumers eye luggage and swimwear February 28, 2022 Associated British Foods (ABF), which also owns budget retail chain Primark, has said it is on track to surpass pre-Covid levels of sales and operating profit. The food manufacturer has been battling against inflation, alongside the rising costs of energy, but anticipates grocery revenue to inch two per cent higher than 2021. While Primark sales [...]
Petrol prices hit £1.51 per litre as cost of living crisis deepens February 28, 2022 UK petrol prices have broken records yet again following Russia’s invasion of Ukraine, which has further driven fears of supply shortages and seen oil prices spike to over $100 per barrel for the first time since 2014. The latest fuel watch figures from motoring group RAC reveal that unleaded petrol hit a peak on Sunday, [...]
Cobra chairman: ‘No running away’ from beer price increases February 7, 2022 Price hikes for beer are a “necessity” against a backdrop of spiralling costs faced by businesses, according to the founder of Cobra Beer. Firms have been hit with rising costs across the supply chain, including manufacturing, energy and labour with consumers facing rising food prices and utility costs. The food and drink industry faces a [...]
Tesco chief: ‘The worst is yet to come’ as energy crisis set to push food prices higher February 7, 2022 Tesco chairman John Allan issued a stark warning on rising food prices yesterday, cautioning “the worst is yet to come” in the coming months. While the supermarket boss said it was troubling people were facing heating or eating, Allan said Tesco had also been hit with soaring energy costs. The average amount of household income [...]
Consumer confidence drops further as cost of living concerns intensify due to skyrocketing bills February 7, 2022 Consumer confidence dropped further in the fourth quarter of last year as Brits concerns about the cost of living intensified. Skyrocketing bills resulted in UK consumer confidence falling one percentage point at the end of last year, to minus 11 per cent, according to the latest Deloitte Consumer Tracker. Cost increases for utilities and groceries [...]
Shop price inflation highest in a decade as Brits feel cost of living squeeze February 2, 2022 Retail inflation has soared in the past month, with Brits eyeing discount retailers for cheaper prices as the country faces a cost of living squeeze. Shop price annual inflation surged to 1.5 per cent in January, according to the British Retail Consortium (BRC) and Nielsen IQ shop price index. This was up from 0.8 per [...]
Households face extra £180 a year on average grocery bill February 1, 2022 Households are facing an extra £180 to their annual grocery bill after inflation has seen prices surge in recent months. The latest four-week grocery price inflation stands at 3.8 per cent, a 0.3 percentage point rise from December, according to the latest market data from Kantar. Take-home supermarket sales dropped 3.8 per cent over the [...]