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Food prices at supermarkets and convenience stores rose
by 6% in the last month, according to figures from the
Office of National Statistics.
July?s increase represents the biggest single jump in
food prices since March 1992.
The news comes after figures from AC Nielsen and TNS
Worldpanel showed that discounters such as Aldi and Lidl
are increasing their share of the UK market.
?There is no doubt that there is some inflation going
on, particularly in products containing cereals and
wheat,? a spokesman for Tesco is quoted as saying in the
Daily Mail.
?But we are keeping a lid on that and stopping consumers
seeing the full force of those rises. We have saved
customers ?620million since the beginning of the year
through a combination of price cuts and promotions right
across the store.?
Meanwhile, the ONS has also revealed a surprise increase
in overall retail sales volumes of 0.8% for the last
month, despite low consumer confidence.
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