Bulletin

Food costs fall for first time in eight years after supermarket price war

Food prices were 0.2% lower in November compared with a year ago, according to the latest British Retail Consortium-Nielsen Shop Price Index. It is the first time that food prices have been down across the board since the index began in 2006. The fall is attributed to the supermarket price war and lower food commodity prices. Mike Watkins, head of retail insight at Nielsen, said the figures were good news for shoppers, but did not bode well for retailers hoping for a bumper Christmas. The BRC expects consumer price inflation, which stood at 1.3% in October, to fall in the coming months, calculating that this winter's energy price freeze would reduce inflation by around 0.3%. Separate figures from the Office for National Statistics showed total average household weekly expenditure rose to £517.30 a week last year, up from £501 a week in 2012 and the highest level since 2010.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

 

 

Other Articles

GoJumpIn

The sky is seemingly the limit for a company which has got us all jumping with excitement as they secure a Santander funding deal to make…

Bulletin
Food and drink exporting opportunities in the UAE

Richard Cuda, Director - Strategic Banking Alliances, International, Santander UK says UK food and drink manufacturers should seriously…

Bulletin

According to DIT, of the 2.5 million businesses registered in the UK, an estimated 360,000 who have an exportable product or service…

Bulletin
GoJumpIn

The sky is seemingly the limit for a company which has got us all jumping with excitement as they secure a Santander funding deal to make…

Bulletin
Food and drink exporting opportunities in the UAE

Richard Cuda, Director - Strategic Banking Alliances, International, Santander UK says UK food and drink manufacturers should seriously…

Bulletin

According to DIT, of the 2.5 million businesses registered in the UK, an estimated 360,000 who have an exportable product or service…

Bulletin

Where Next?