Price rises hit Christmas shopping

Christmas dinner

Food inflation accelerated to 1.1% in November, up from 0.5% in October, new research reveals. This is the highest inflation rate since November 2020.

The BRC-NielsenIQ research shows fresh Food inflation accelerated to 1.2% in November up from 0.3% in October, the highest inflation rate since August 2019.

Ambient Food inflation accelerated to 0.9% in November up from 0.8% in October, the highest rate of increase since April 2021.

Mike Watkins, Head of Retailer and Business Insight at NielsenIQ, said: “The significant increases in energy and travel costs are adding pressure to household budgets and the remaining weeks of the Golden Quarter could be an uncertain time for shopper spend.

“NielsenIQ shopper research shows that 4 in 10 households feel that their spending is constrained and whilst inflationary pressures are now coming from both food and non-food, retailers continue to keep hold back increases in shop prices ahead of Christmas.”

Helen Dickinson, Chief Executive of the British Retail Consortium, added: “Food was also affected by a rise in global food costs where certain staples, such as vegetable oil, have doubled in price in the past two years.”

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