LONDON: UK grocery inflation hit 14.7% in October, another new record, and it is still too early to call the ceiling, market researcher Kantar said on Tuesday.
It said UK consumers would face a 682-pound ($785) jump in their annual grocery bill if they continued to buy the same items. Prices were rising fastest in products such as margarine, milk and dog food.
Kantar said 27% of UK households reported that they are struggling financially – double the proportion it recorded last November. “Nine in ten of this group say higher food and drink prices are a major concern, second only to energy bills, so it’s clear just how much grocery inflation is hitting people’s wallets and adding to their domestic worries,” Fraser McKevitt, Kantar’s head of retail and consumer insight, said. –Agencies
