7 March 2017
“While consumers may be starting to feel a very slight pinch, increased inflation has led to overall market growth. Simultaneously, combined sales at the UK’s four largest supermarkets increased by 0.5% year on year.”
These were the words Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, offered as he suggested that the major UK supermarkets (Tesco, Sainsbury’s, Asda and Morrisons) now benefit from rising prices.
Kantar Worldpanel, a consumer consultancy, who conducted the research estimated that the cost of fruit and vegetables rose significantly, an issue New Food recently addressed in our Health Ingredients Month.
The news reflects fears that 2017 will be the year that Brexit’s economic impact will begin to take hold, a notion reflected in warnings made by the OECD which estimate that UK growth will slow in 2017 to 1.6% from 1.8% in 2016.
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