For the second month in a row, food price inflation in the UK has declined, but inflation remained at the third highest level since 2008, Kantar figures showed on Tuesday.
According to Kantar, food price inflation fell by 17.2% in the four weeks to May 14, down from 17.3% in the previous four weeks. The data shows that the prices of items such as eggs, milk and cooking sauces are rising the fastest.
At the current rate of inflation, the average British household will spend an extra £ 833 on groceries each year. In the 12 weeks to 14 May, total consumer spending increased by 10% to GBP 32.92 billion, up from GBP 29.91 billion a year earlier.
“Food sales increased by 16% during the week of the coronation, sending a total of £ 218 million extra through the cash registers. Customers filled their glasses, with sparkling and non-sparkling wine being especially popular. Sales of these products increased by 129% and 33%, respectively, not due to price increases but due to demand, with wine inflation of only 1%,” said Fraser McKevitt, Kantar’s head of retail & consumer insight.
