A shopper checks her shopping list in a supermarket in London, Britain April 11, 2017. British inflation shot past the Bank of England's 2 percent target last month, potentially adding to uneasiness among some officials at the central bank about keeping interest rates near zero. Consumer prices rose by a stronger-than-expected 2.3 percent, the biggest annual increase in nearly three-and-a-half years, pushed up by an increase in global oil prices and the impact of the Brexit vote on sterling.

Grocery prices increased 3.4% in the last quarter as Brexit driven inflation continues to bite.
“Prices are rising fastest in markets such as butter, fish and cola,” market research firm Kantar Worldpanel said.
Lidl and Aldi continue to grow rapidly, with Lidl Britain’s fastest growing supermarket for the fifth consecutive quarter.

LONDON — Grocery prices are rising at their fastest rate in four years as the growing cost of imports since the Brexit vote forces retailers to increase prices, according to the latest survey from Kantar Worldpanel.

The sharp fall in the value of the pound following the UK’s vote to leave the EU last year has raised the cost of imports and pushed up the rate of inflation, which is now being passed on to UK consumers.

Rising supermarket prices are perhaps the most visible sign of the wider growth in inflation since last June, and that is reflected in Kantar’s data, which showed grocery inflation at 3.4% in the 12 weeks up to November 5.

“Prices have been rising since the 12 weeks to 1 January 2017, following a period of grocery price deflation which ran for 30 consecutive periods from September 2014 to December 2016,” the market research firm said.

“Prices are …read more


Source:: Businessinsider – Politics

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