UK grocery prices jump 2.3% in 12 weeks to March 26
London - Arab Today
British grocery prices jumped 2.3 percent year-on-year in the 12 weeks to March 26, as the plunge in the pound following last year’s Brexit vote forced higher the cost of staples including butter, fish, tea and skincare.
Market researcher Kantar Worldpanel said the latest increase was up from the 1.4 percent rise recorded in the 12 weeks to Feb. 26. Food prices started to edge up in Britain in the final three months of 2016, ending more than two years of falling costs.
“Inflation shows no signs of abating,” said Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel. Rising prices cost the average household an additional £21.31 ($26.52) during the past 12 weeks, McKevitt said.
“We expect inflation to continue to accelerate, and as a result, we’re likely to see consumers looking for cheaper alternatives.”
Source: Arab News
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