Categories: India

UPDATE 1-UK grocery inflation rises to 5.2%, says Worldpanel

(Adds detail paragraphs 3 to 7) LONDON, Oct 14 (Reuters) – British grocery inflation rose to 5.2% in the four weeks to October 5, industry data showed on Tuesday, adding to pressure on consumers already facing higher energy bills. The figure from Worldpanel by Numerator (formerly Kantar), which provides an early indication of pricing pressures ahead of official UK inflation data on October 22, compared with 4.9% in last month's report. Worldpanel said prices were rising fastest in markets such as chocolate confectionery, fresh meat and coffee and falling fastest in household paper, sugar confectionery and sparkling wine. Britain's food retailers have said that higher employer taxes and regulatory costs as well as increased staff wages are adding to inflationary pressure from higher prices for commodities. The British Retail Consortium, which represents Britain's biggest retailers, predicts that food inflation will be up to 6% by the end of the year, putting more pressure on household budgets in the run up to Christmas. The Bank of England has forecast it will hit 5.5% before Christmas and then fall back as global wholesale factors fade. Overall UK inflation held at 3.8% in August, according to official data published last month, the highest among major advanced economies. Worldpanel said grocery sales rose 4.1% over the four week period year-on-year. Separate industry data published on Tuesday showed British consumer spending grew by the least in four months in September as uncertainty ahead of finance minister Rachel Reeves' budget next month and rising energy bills deterred shoppers. (Reporting by James Davey, Editing by Paul Sandle and Sarah Young)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

Indianews Syndication

Recent Posts

Hidden plastics in your garden and how to ditch them

Compost, fertilisers and even turf may all contain plastic elements. London (PA Media/dpa) - For many…

21 minutes ago

Harsh Sanghavi honoured with an exclusive diamond creation by International School of Gems and Jewellery (ISGJ) and Lexus

Custom-crafted brown diamond portrait recognises Harsh Sanghavi’s contribution to Gujarat and the diamond industry New…

1 hour ago

Paris Fete de la Musique to go ahead Sunday despite heatwave, minister says

PARIS, June 19 (Reuters) - Paris will hold its annual Fete de la Musique celebrations…

2 hours ago

Ajay’s Cafe Enters Kutch with First Outlet in Bhuj; Plans 8-10 Cafes Across the Region in the forthcoming Days

With 272 outlets across Gujarat, the expansion into Kutch reinforces the brand’s commitment to regional growth,…

3 hours ago

Your ultimate hosting checklist: What to do before guests arrive

Make sure your home is ready for entertaining and everything looks garden fresh with the…

3 hours ago

Andaman Packages from Vizag: Your Complete Island Getaway Guide

New Delhi [India], June 19: Planning an island escape from Visakhapatnam? Andaman packages from Vizag…

4 hours ago