There are “encouraging early signs that inflation is starting to ease,” Tesco’s boss has said as the retail giant reported higher sales for the past quarter. Ken Murphy, chief executive of the UK’s largest grocery chain, suggested that rampant food inflation could have passed its peak, though he stressed that customers continue to face cost-of-living…
UK Food Inflation Eases in May But Remains High, Says Retailers Group
Food inflation in the UK has fallen for the first time in almost two years, with experts suggesting that lower energy and commodity costs are driving food prices down. A report by the British Retail Consortium (BRC) and Nielsen, published on Tuesday, showed a deceleration from 15.7 percent to 15.4 percent in food inflation in…
UK Food Prices Soared 15.7 Percent in April but Predicted to Fall in Coming Months
Food inflation in the UK reached 15.7 percent in April, the highest on record, but business experts say food prices should begin to fall in the coming months. According to the latest BRC-NielsenIQ shop price index, food inflation rose to 15.7 percent last month from 15 percent in March. The inflation was even higher for…
Wet Weather Blamed as UK Retail Sales Fall by 0.9 Percent in March
UK retail sales fell in March as businesses blame poor weather for discouraging people from heading to the shops. According to the latest data released by the Office for National Statistics (ONS), retail sales volumes dropped by 0.9 percent last month, with clothes shops, department stores, and garden centres all reporting declines. The decline—which came…
Cory Morgan: Blaming Grocers for Food Price Inflation Is a Red Herring
Commentary It was high drama during a recent meeting of what is typically a sedate parliamentary agriculture committee. With weeks of pressure, MPs managed to get some CEOs of Canada’s largest grocers to appear before the committee to explain their recent profit levels. NDP Leader Jagmeet Singh had been attacking Canadian grocers for days using…
Food Prices Dramatically Higher Since COVID: StatCan Figures
New food inflation figures for the month of January show that groceries are now dramatically more expensive than they were before COVID. Meat eaters in January 2023 paid 48 percent more for a striploin steak than they did in February 2020, before COVID-19 was making headlines in Canada and the country started lockdowns. Salad lovers…
UK Households Buying Less Food as Grocery Inflation Continues to Soar
Half of the UK population has reported buying less food when shopping in recent weeks, as food price inflation puts increasing pressure on British households. According to survey results from the Office for National Statistics (ONS), the rising cost of living has caused Britons to cut back on their spending on food. The ONS survey,…
Walmart Executives Admit ‘Food Inflation’ Remains ‘Most Stubborn’
Top executives at Walmart highlighted the issue of elevated food inflation during a recent conference call while also pointing out that inflation in dry groceries is a much more significant problem compared to fresh groceries. “Generally speaking, food inflation has been the most stubborn of all the categories. So, we were in mid-double digits in…
Federal Committee Investigating Food Inflation to Summon CEOs From 3 Biggest Grocery Chains to Testify
The heads of Canada’s three grocery oligarchs will be summoned to appear before a House of Commons committee investigating food price inflation. MacGregor posted Feb. 13 on Twitter that the Standing Committee on Agriculture and Agri-Food “unanimously passed my motion to summon the Presidents and CEOs of the three biggest grocery chains in Canada: Empire,…
Spike in Egg, Lettuce Prices Shows Supermarket Prices Still Hurting Budgets
The U.S. annual food inflation rate slowed to a seven-month low of 10.4 percent in December, down from 10.6 percent in November, according to the Bureau of Labor Statistics (BLS). Household grocery budgets still face tremendous pressure as supermarket prices remained elevated at 11.8 percent, and rose 0.2 percent month over month. The Consumer Price…
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