Tesco boss says food prices could start to ease
1 year, 6 months ago

Tesco boss says food prices could start to ease

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Tesco boss Ken Murphy claims he is “optimistic” that food prices could soon start to fall as Britons continue to struggle against spiralling costs. “There are encouraging early signs that inflation is starting to ease across the market and we will keep working tirelessly to ensure customers receive the best possible value at Tesco.” His comments come as Tesco, the largest supermarket chain in the UK, reported total sales of £14.8 billion for the 13 weeks to May 27, with a like-for-like sales increase of 8.2 per cent against the same period last year. Its UK division saw a like-for-like sales rise of 9 per cent after it said it saw benefits from customers switching “from premium retailers” amid pressure on consumer budgets. According to National World, the UK is now the worst-affected major European economy when it comes to food prices according to the latest set of international Consumer Price Index data for April 2023.

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History of this topic

Food prices are on the rise again. What’s behind the increase
3 weeks, 4 days ago

Food prices are on the rise again. What’s behind the increase

CNN  

Rochester, Minnesota CNN — On the Sunday before Thanksgiving, a grocery store here was plumb out of eggs. And it’s not just eggs — shoppers have seen jumps in beef, coffee and non-alcoholic beverages, driving up overall grocery prices to their largest monthly gain since January 2023. “Overall grocery price inflation is relatively tame; it’s essentially in line with where …

Food prices are on the rise again. What’s behind the increase
3 weeks, 4 days ago

Food prices are on the rise again. What’s behind the increase

CNN  

Rochester, Minnesota CNN — On the Sunday before Thanksgiving, a grocery store here was plumb out of eggs. And it’s not just eggs — shoppers have seen jumps in beef, coffee and non-alcoholic beverages, driving up overall grocery prices to their largest monthly gain since January 2023. “Overall grocery price inflation is relatively tame; it’s essentially in line with where …

Price warning as 17-month run of falling shop inflation ends
1 month, 2 weeks ago

Price warning as 17-month run of falling shop inflation ends

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A 17-month-long run of falling shop inflation has ended, with …

The shock rise in inflation spells bad news for mortgages
1 month, 2 weeks ago

The shock rise in inflation spells bad news for mortgages

The Independent  

A mere month after inflation undershot the Bank of England’s 2 per cent target, it’s back up again – in the sharpest spike in two years. The Consumer Prices Index jumped to 2.3 per cent in October, against 1.7 per cent the previous month, dealing a death blow to any hopes of a second straight interest rate cut in December. …

Grocery inflation rises as supermarket trips hit four-year high
1 month, 3 weeks ago

Grocery inflation rises as supermarket trips hit four-year high

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Supermarket prices were 2.3% higher than a year ago last month, up slightly on …

Consumer inflation at 14-month high of 6.2%
Trending News
1 month, 3 weeks ago

Consumer inflation at 14-month high of 6.2%

Hindustan Times  

Retail inflation came in at 6.2% in October, the highest in 14 months, and outside the upper band of the Reserve Bank of India’s tolerance limit, primarily on account of higher food prices with potatoes, onions and tomatoes, stape vegetables all, driving the charge. The higher-than-expected number means that RBI’s Monetary Policy Committee is unlikely to cut rates in its …

Tesco is 'lowering prices as quickly as possible' says boss with cuts on thousands of items as UK's battle against inflation eases
3 months ago

Tesco is 'lowering prices as quickly as possible' says boss with cuts on thousands of items as UK's battle against inflation eases

Daily Mail  

Tesco's boss said it was 'lowering prices as quickly as possible' as the UK's battle against inflation continues to ease. Tesco's lower pricing has come as it has continued to grow its market share over the past year, now holding around 27.8 per cent of the grocery market, up from 27 per cent last October, according to Kantar figures. Ken …

​Last mile woes: On inflation data and the challenges
3 months, 3 weeks ago

​Last mile woes: On inflation data and the challenges

The Hindu  

The latest retail inflation data from the National Statistical Office yet again highlights the challenge in achieving durable price stability. Provisional estimates for year-on-year price gains in August show the headline rate based on the Consumer Price Index quickened marginally to 3.65%, from July’s 3.60%, as a sharp rebound in vegetable inflation led to a wider acceleration in overall food …

Slide in tomato prices aid an 8% dip in vegetarian meal costs, CRISIL says
4 months ago

Slide in tomato prices aid an 8% dip in vegetarian meal costs, CRISIL says

The Hindu  

A sharp 51% drop in tomato prices aided in an 8% decline in average vegetarian meal costs through August but onion and potato prices surged more than 50% and the actual price paid by consumers for a vegetarian plate of food remained the second highest over the past year at ₹31.2, just 4% below July levels, as per Crisil’s monthly …

Grocery price inflation rises for first time since March 2023
4 months, 3 weeks ago

Grocery price inflation rises for first time since March 2023

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Grocery price inflation has risen …

Food prices are no longer rising as much — but here's why it might not feel that way
5 months, 4 weeks ago

Food prices are no longer rising as much — but here's why it might not feel that way

NPR  

Food prices are no longer rising as much — but here's why it might not feel that way toggle caption Justin Sullivan/Getty Images North America Grocery prices are no longer climbing as much as they did in the last two years — but many Americans are still frustrated by what it costs to put food on the table. Here are …

31%: The surge in food prices irking voters in the UK election
6 months ago

31%: The surge in food prices irking voters in the UK election

Al Jazeera  

The cost of living is a key issue in an election expected to end 14 years of Conservative Party governance. While inflation has finally returned to the central bank’s target of 2 percent after hitting double-digit highs in 2022 and 2023, people are still paying much more for essentials, including food, than they were just a few years ago. Food …

Food inflation still a concern, experts say: ‘Fight on this front far from over’
6 months, 3 weeks ago

Food inflation still a concern, experts say: ‘Fight on this front far from over’

Hindustan Times  

In the latest assessment of India's Consumer Price Index inflation for May 2024, experts from India Ratings and Research, the PHD Chamber of Commerce and Industry, and CRISIL shared their insights, highlighting both positive trends and lingering challenges. Sinha and Jasrai noted, "The core inflation though edged down further to 3.1 per cent in May 2024. Commenting on the CPI …

Food inflation eases as price of meat, crumpets and chocolate biscuits fell last month, ONS says
8 months, 3 weeks ago

Food inflation eases as price of meat, crumpets and chocolate biscuits fell last month, ONS says

Daily Mail  

The pace of UK food inflation fell to the lowest annual rate since November 2021 in March, official figures from the Office for National Statistics show. Overall, prices for food and non-alcoholic drinks increased by 4 per cent in the year to March, down from 5 per cent in the year to February, the ONS said. The ONS data showed …

Inflation drops to 10-month low in March 2024, but no relief on food bills yet
8 months, 3 weeks ago

Inflation drops to 10-month low in March 2024, but no relief on food bills yet

The Hindu  

India’s retail inflation moderated to a ten-month low of 4.85% in March from 5.1% in February, but food inflation remained sticky at 8.52%, little changed from the 8.66% recorded in the previous month as price rise accelerated in cereals and meat, while vegetables, pulses, spices and eggs remained in double-digit inflation. Even as crude oil prices are firming up and …

Unions accuse Tesco of profiteering as earnings soar – are they right?
8 months, 4 weeks ago

Unions accuse Tesco of profiteering as earnings soar – are they right?

The Independent  

Unite general secretary Sharon Graham’s response to Tesco’s announcement of a £2.3bn pre-tax profit – more than double the previous year’s number, and its best result for more than a decade – was furious. “There is an epidemic of profiteering in our economy – the government has been missing in action and failed to curb it.” Tesco’s headline numbers seem …

Tesco says shoppers buying more after inflation ‘lessened substantially’
8 months, 4 weeks ago

Tesco says shoppers buying more after inflation ‘lessened substantially’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Tesco said inflation in the …

Battle for customers drives down UK shop inflation
9 months ago

Battle for customers drives down UK shop inflation

China Daily  

Competition for customers between retailers has played a big part in shop price inflation in the United Kingdom falling to its lowest level in two years, newly published figures have revealed. Food inflation dropped from 5 percent to 3.7 percent, and non-food inflation plummeted down from 1.3 percent to 0.2 percent, as retailers battled to win over customers who have …

How inflation has hit your shopping basket
10 months, 3 weeks ago

How inflation has hit your shopping basket

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. A slowing of inflation among many everyday food and drink items, including cheese and …

Food prices fall for first time since 2021 as inflation remains unchanged
10 months, 3 weeks ago

Food prices fall for first time since 2021 as inflation remains unchanged

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation unexpectedly held steady last …

2024 brings breather on inflation but food prices are still sticky
10 months, 3 weeks ago

2024 brings breather on inflation but food prices are still sticky

The Hindu  

February 12, 2024 06:10 pm | Updated 09:00 pm IST - New Delhi India’s retail inflation eased to a three-month low of 5.1% in January from 5.7% a month earlier, with food price rise cooling a bit to 8.3% compared with 9.5% in December 2023. While overall inflation faced by urban consumers dropped to 4.92% from 5.5% a month ago, …

Food price inflation falls at fastest rate on record
1 year ago

Food price inflation falls at fastest rate on record

The Telegraph  

Mr 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 …

Acceleration foretold: On volatile food prices
1 year ago

Acceleration foretold: On volatile food prices

The Hindu  

November’s resurgence in headline retail inflation, while clearly not unexpected after the RBI just last week predicted a likely ‘uptick’, is a stark reminder of the risks volatile food prices pose. While the National Statistical Office’s provisional reading of headline inflation shows the Consumer Price Index rose by 5.55% year-on-year to a three-month high, from October’s 4.87%, food price gains …

Inflation cooled to 5% in September
1 year, 2 months ago

Inflation cooled to 5% in September

The Hindu  

India’s retail inflation eased from 6.83% in August to 5.02% in September, breaking a two-month streak over the tolerance threshold of the Reserve Bank of India, with the rise in food prices easing to 6.6% from almost 10%. Rural inflation stood at 5.33% in September, compared to 7% in August, while the price rise faced by urban consumers moderated more …

Govt.’s pre-emptive measures will cool food prices: Finance Ministry
1 year, 4 months ago

Govt.’s pre-emptive measures will cool food prices: Finance Ministry

The Hindu  

The Finance Ministry of Tuesday, August 22, 2023, said the inflation in food items is likely to be transitory as pre-emptive measures by the government and arrival of fresh crops will cool prices, even though global uncertainty and domestic disruptions may keep inflationary pressures elevated for the coming months. The consumer price index based retail inflation spiked to a 15-month …

Retail inflation surges to 7.44% in July
1 year, 4 months ago

Retail inflation surges to 7.44% in July

The Hindu  

Retail inflation resurged in July to hit 7.44% from 4.87% in June, with consumers facing a sharp 11.5% spike in food prices. Wholesale prices Wholesale prices remained in deflationary mode for the fourth month in a row in July, but prices of food and primary articles spiked by over 7.5%, narrowing the overall price dip sharply to -1.36% from the …

Food price inflation not driven by weak supermarket competition, says watchdog
1 year, 5 months ago

Food price inflation not driven by weak supermarket competition, says watchdog

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. CMA chief executive Sarah Cardell said: “With so many …

Mr Kipling cakes firm says food cost inflation is ‘past its peak’ so no more price hikes this year
1 year, 5 months ago

Mr Kipling cakes firm says food cost inflation is ‘past its peak’ so no more price hikes this year

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Recent food cost inflation is “past its peak”, said Mr …

UK inflation falls as prices rise less than expected
1 year, 5 months ago

UK inflation falls as prices rise less than expected

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr Ramsden said if there is evidence of “more persistent” inflation ahead of the Bank’s …

Grocery price inflation show biggest drop since March peak
1 year, 5 months ago

Grocery price inflation show biggest drop since March peak

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

June 2023 inflation quickens to 4.8% as food prices climb
1 year, 5 months ago

June 2023 inflation quickens to 4.8% as food prices climb

The Hindu  

India’s retail inflation hardened in June to a three-month high of 4.81% from 4.31% in May, driven by a spike in food price inflation to 4.5% from less than 3% in the previous month, owing to rising costs faced by households for items like cereals, pulses, milk and tomatoes. While the pace of consumer price rise in June broke a …

Ocado announces price cuts to milk and other ‘everyday essentials’
1 year, 6 months ago

Ocado announces price cuts to milk and other ‘everyday essentials’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Supermarkets say they are doing everything they can amid ‘profiteering’ quiz
1 year, 6 months ago

Supermarkets say they are doing everything they can amid ‘profiteering’ quiz

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. But Mr Jones pressed: “How can it be possible that you are making hundreds …

Explained: Why food prices in Europe continue to remain high
1 year, 7 months ago

Explained: Why food prices in Europe continue to remain high

Firstpost  

It is the most basic of staple food items: sliced white bread. In Britain, the average price of a loaf was 28 per cent higher in April, at £1.39, or $1.72, than it was a year earlier In Italy, the price of spaghetti and other pasta, a fixture of the Italian diet, has risen nearly 17 per cent from the …

Retail boss Stuart Rose warns of ‘unintended consequences’ of food price caps
1 year, 7 months ago

Retail boss Stuart Rose warns of ‘unintended consequences’ of food price caps

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Veteran retail boss Stuart Rose …

Will the government really introduce a cap on food prices?
1 year, 7 months ago

Will the government really introduce a cap on food prices?

The Independent  

The government is considering a plan under which supermarkets would cap the cost of basic foods such as bread and milk to help families struggling with the cost of living crisis. Any scheme to help bring down food prices for consumers would be voluntary and at retailers’ discretion.” So will there be a cap on prices? Although the annual rate …

Brexit has cost UK households £250 in higher food bills, experts claim
1 year, 7 months ago

Brexit has cost UK households £250 in higher food bills, experts claim

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please …

Food inflation ‘is too high’, PM says, as SNP warn of ‘cost-of-greed crisis’
1 year, 7 months ago

Food inflation ‘is too high’, PM says, as SNP warn of ‘cost-of-greed crisis’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Food inflation “is too high”, …

Inflation falls to lowest level in over a year - but food prices remain high
1 year, 7 months ago

Inflation falls to lowest level in over a year - but food prices remain high

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation has fallen back to its lowest level in over …

UK inflation falls to lowest level in over a year but food prices keep decline in check
1 year, 7 months ago

UK inflation falls to lowest level in over a year but food prices keep decline in check

Associated Press  

LONDON — Inflation in the U.K. has fallen to its lowest level since the immediate aftermath of Russia’s invasion of Ukraine, though elevated food prices meant it didn’t fall as much as anticipated. “The rate of inflation fell notably as the large energy price rises seen last year were not repeated this April, but was offset partially by increases in …

U.K. inflation falls to lowest level in more than a year, but food prices remain high
1 year, 7 months ago

U.K. inflation falls to lowest level in more than a year, but food prices remain high

LA Times  

Official figures show that inflation in Britain has fallen to its lowest level since the immediate aftermath of Russia’s invasion of Ukraine. Inflation in Britain has fallen to its lowest level since the immediate aftermath of Russia’s invasion of Ukraine, though elevated food prices mean that it didn’t fall as much as anticipated. One of the main reasons why inflation …

Grocery price inflation drops slightly but remains sky-high
1 year, 7 months ago

Grocery price inflation drops slightly but remains sky-high

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. While the figures suggest that inflation is moving in the right direction the 0.1 …

Food prices double in the UK as inflation at ‘shockingly high levels’, data shows
1 year, 7 months ago

Food prices double in the UK as inflation at ‘shockingly high levels’, data shows

The Independent  

Some meat, yoghurt and vegetables are among items that have doubled in price compared to a year ago, new figures show. urged prime minister Rishi Sunak to intervene on behalf of struggling consumers as its latest data shows food inflation remaining at “shockingly high levels”. With levels of food poverty among children having doubled in the year to January 2023, …

Food prices set to come back down soon, supermarket chiefs promise
1 year, 7 months ago

Food prices set to come back down soon, supermarket chiefs promise

The Independent  

Supermarket bosses are said to have told Rishi Sunak’s government that food price inflation has already peaked and costs to the consumer will start to fall in the coming months. It comes after the Bank of England food price pressures had proved more “sticky” than expected as UK inflation remains “stubbornly high”. Top supermarkets assured chief secretary to the Treasury …

UK inflation: Why are food prices rising so much?
1 year, 8 months ago

UK inflation: Why are food prices rising so much?

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. But food prices increased to 15.7 per cent, the highest …

Tesco to slice the price of bread to beat Aldi and Lidl
1 year, 8 months ago

Tesco to slice the price of bread to beat Aldi and Lidl

The Telegraph  

Tesco has signalled it is ready to slice the price of bread, as Britain's biggest supermarket strives to compete with rivals Aldi and Lidl. Ken Murphy, Tesco’s chief executive, said: “We would hope that, in certain areas, in bakery, you will start to see some deflation.” He added the retailer would be “very vigilant and very rigorous” to get a …

Consumer inflation eases to 5.66% in March
1 year, 8 months ago

Consumer inflation eases to 5.66% in March

The Hindu  

India’s retail inflation slid below the 6% mark for the first time in 2023 — and only the third time in the last 15 months — to touch 5.66% in March 2023. Food price inflation, which was 7.7% in March 2022 and 6% in February this year, eased to 4.8% last month, as per data from the National Statistical Office. …

Food inflation hits a record high – and retailers say price rises ‘have yet to peak’
1 year, 9 months ago

Food inflation hits a record high – and retailers say price rises ‘have yet to peak’

The Independent  

Shop price inflation reached a record high this month, figures show – and there’s more misery for households in store as experts warn soaring food costs have yet to peak. The increasing cost of sugar coupled with high manufacturing costs contributed to price rises for chocolate, sweets and fizzy drinks, while fruit and vegetable prices also rose as poor harvests …

Egg crisis hits as grocery price inflation soars to record 17.1%
1 year, 10 months ago

Egg crisis hits as grocery price inflation soars to record 17.1%

The Independent  

Grocery prices have sky-rocketed by a record 17.1 per cent compared to a year ago, according to new research which underlines that the cost of living crisis is far from over. Analysts at the firm looked at grocery inflation, or rising prices, in the four weeks to 19 February and found a 17.1 per cent rise when compared with the …

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