UK grocery inflation hits new high in February
UK grocery price inflation reached a record 17.1% in the four weeks to 19 February, according to Kantar. The value of take-home grocery sales increased by 8.8% in the four-week period, and by 8.1% over the previous 12 weeks. February marks a year since monthly grocery inflation climbed above 4% in the UK.
Kantar head of retail and consumer insight, Fraser McKevitt said that rising inflation is having a major impact on people’s lives. “Our latest research shows that grocery price inflation is the second most important financial issue for the public behind energy costs, with two-thirds of people concerned by food and drink prices, above public sector strikes and climate change.”
UK households are facing an £811 increase in their average annual grocery spend.