UK grocery inflation drops, retail sales rise in August
U.K. grocery inflation dropped to its lowest level in more than a year, but consumers said they remain concerned about the prices they are paying for food, as well as the economy overall.
Grocery price inflation declined from 12.7 percent in July to 12.2 percent in August, according to the latest data from Kantar. In response, take-home sales from all grocery chains rose by 7.4 percent compared with the same period in 2022.
August followed the ongoing six-month trend of falling grocery prices, but 12.2 percent is still not “a number to celebrate for many households,” Kantar Head of Retail and Consumer Insight Fraser McKevitt said in a press release.
“Our data shows that 95 percent of consumers are still worried about the impact of rising grocery prices, matched only by their concern about energy bills,” McKevitt said. “After a full year of double-digit grocery inflation, it’s no surprise that just under a quarter of the population consider themselves to be struggling financially – although this is a very slight drop compared to May.”
To help cash-strapped customers, U.K. grocery chains are continuing to lower prices. Notably …
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