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Investing.com -- The United Kingdom (TADAWUL:4280) has seen a significant rise in grocery price inflation, which reached 4.1% for the four weeks leading up to May 18.
This is the highest level since February of the previous year, according to data released by market research firm Kantar.
This increase is adding further strain on consumers who are already contending with higher household bills.
In comparison, the grocery price inflation rate was 3.8% in the report Kantar released last month.
The data also indicated a year-on-year increase in grocery sales by 4.4% during the same period.
Fraser McKevitt, head of retail and consumer insight at Kantar, commented on the impact of inflation on consumer behavior.
He noted that households have been adjusting their buying habits to manage budgets for some time.
However, changes in behavior become more noticeable once inflation exceeds the 3% to 4% point, as people feel the impact on their wallets more significantly.
Kantar’s data showed that prices were increasing fastest for items such as chocolate confectionery, suncare products, and butters and spreads.
On the other hand, prices were falling fastest for dog food, cat food, and household paper products.
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