British grocery prices rose 1.3% with supermarket promotions hitting record lows

British grocery prices rose 1.3% with supermarket promotions hitting record lows

British grocery prices rose 1.3% on a like-for-like basis in the four weeks to Sept. 5 year-on-year, with supermarket promotions hitting record lows, market researcher Kantar said on Tuesday. It said that for much of 2021 shoppers were shielded from price increases, with more products being sold on promotion compared to 2020. However, in the past month only 27.5% of spending was done on deals. “Other than the early days of lockdown last year, that is the lowest level recorded in the 15 years which we have tracked this data, with retailers aiming to offer everyday low prices instead,” said […]

The UK inflation rate fell to 2% in the year to July

The UK inflation rate fell to 2% in the year to July

The Consumer Prices Index (CPI) measure of inflation dipped from 2.5% in the year to June, the highest level for nearly three years, the Office for National Statistics (ONS) said. The rate fell to the Bank of England’s 2% inflation target, after being higher for two months in a row. The dip in inflation was driven by price falls in clothing and footwear. Prices of games, toys and hobbies were also down and package holidays fell slightly compared with a year ago. However, those decreases were “largely offset” by price rises in transport, the ONS said. Average petrol prices stood […]