Food price inflation falls at fastest rate on record
The TelegraphMr McKevitt said cost of living pressures were forcing more shoppers to hunt out discounts, with almost a third of all spending in the weeks before Christmas made on items that were on offer at the tills. He added: “Retailers were clearly working hard during the festive period to offer best value and win over shoppers, and promotions were central to their strategy.” It comes amid signs that the price war between supermarkets is heating up, with Morrisons announcing a new wave of cuts on Monday covering 200 items. Kantar figures revealed that Sainsbury’s and Tesco increased their market share over December. Sainsbury’s hit its highest market share since December 2020 at 15.8pc, according to Kantar, while Tesco held 27.6pc of the market. On a month-on-month basis, both Aldi and Lidl’s share of the grocery market slipped back.