Consumers turn to supermarkets’ cheaper own-label products; oil prices extend losses as traders worry about demand drop from China
Grocery price inflation in the UK hit 5.2% in March, the highest since April 2012, according to the latest figures from data analytics firm Kantar. As costs rise, consumers are turning to own-label products which tend to be cheaper than branded ones, and now account for 50.6% of all spending . Discount retailers Aldi achieved a record market share of 8.6% and Lidl matched its best performance at 6.4%, as both chains grew sales by 3.6%. Overall supermarket sales fell by 6.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil price surge: Motorists hit with warning as fuel rationing looms amid petrol crisisMOTORISTS have been hit with a fuel rationing warning amid growing concerns a diesel shortage could grip Europe.
Read more »
Energy price rises will hit UK harder in 2022 than any year in 1970sBank of England Governor Andrew Bailey said swings in commodity markets after Russia's invasion of Ukraine posed a risk to financial stability at an event in Brussels on Monday.
Read more »
Canada pledges to help countries stop using Russian oilCanada says its can provide more oil, gas and uranium to help solve the global energy crisis.
Read more »
What can Russia do to sell its unwanted oil?China and India sniff a bargain
Read more »
Oil slips and bitcoin jumps as Shanghai Covid lockdown rekindles supply chain fearsA snap lockdown of 26 million residents in Shanghai took the heat out of a seemingly inexorable rise in oil prices today, sending Brent crude down more than 3%
Read more »
Supermarket reverses palm oil ban following Ukraine war🇮🇸Iceland has been forced to reverse a ban on palm oil amid an acute shortage of sunflower oil, a staple ingredient in frozen chips and breaded fish
Read more »