Industry data suggests competition for customer loyalty in the run-up to Christmas, and higher spending on promotions, is helping grocery inflation slow.
The rate of grocery inflation eased considerably over the past month, part-aided by a 'jump in the amount of money spent on offers', according to a closely-watched study. Kantar Worldpanel, which records supermarket sales and price data, said the annual rate of grocery inflation fell back to 11% over the four weeks to 1 October. Its last report, a month ago, had measured a rate of 12.2%.
The festive season promises to be a battle to secure business not just within supermarkets but in the wider retail, hospitality and leisure sectors. Wider data released on Monday covering September suggested budgets were focused on leisure time in the good weather, rather than at the shops. The British Retail Consortium reported that autumn fashion sales were weak, likely due to the sunshine, as food continued to lead spending growth. The value of retail sales grew by 2.
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