Posted on 03/28/2023 4:33:10 AM PDT by Oldeconomybuyer
UK grocery inflation has hit a new record high - with customers now paying hundreds more a year - but there are warnings the worst is yet to come.
As inflation for food hits 17.5%, Kantar Worldpanel reported households are now facing a potential £837 hike in the annual cost of their regular basket - although consumers are increasingly shopping around in a bid to find the best value.
Its latest report said footfall was up in "every single grocer" over the four weeks to March 19, with households now visiting three or more of the top 10 retailers per month on average - with chains "battling it out" to get buyers.
But amid concerns over the impact of salad shortages in some UK supermarkets, Kantar said shoppers had instead turned to independents to plug any gaps in availability.
Its head of retail and consumer insight, Fraser McKevitt, said: "Despite concerns about shortages, the number of baskets containing tomatoes, cucumbers or peppers in the 10 major grocers stayed at 17% in March, the same as February.
"For any shoppers who couldn't get what they wanted in larger supermarkets, the independents stepped in, with the volumes of tomatoes, peppers and cucumbers in baskets rising by 32%, 26% and 21% respectively in these stores."
But there are warnings the UK has not seen the worst of the surging prices.
BRC chief executive Helen Dickinson said: "Shop price inflation has yet to peak.
"Food price rises will likely ease in the coming months, particularly as we enter the UK growing season, but wider inflation is expected to remain high."
Mike Watkins, head of retailer and business insight at NielsenIQ, said: "Inflation continues to have an impact on the spending power of shoppers and increased energy bills from April will add more pressure."
(Excerpt) Read more at news.sky.com ...
Basics like eggs, bread, milk, cheese etc. are going up fast.
The supermarkets are very competitive though and heading for total automation (checkout).
Trump is right. they could fix all of this by ending the war and opening oil/ gas. The psychopaths don’t want that so they raise interest rates instead, which will only destroy what is left.
If more people don’t wake up fast, the insane leftist lunatics in Europe and America will make all of us a permanent slave class.
It would help.
Think it’s bad now? Just wait until All fertilizers are banned and the automated checkouts ask for papers...please. so sad that no one of any consequence is willing to stop the destruction of society.
[Think it’s bad now? Just wait until All fertilizers are banned]
Yes. Famine is one of the Four Horsemen of the Apocalypse.
The Leftists are actually making it happen all over the world.
Sri Lanka showed us that much.
“interest rates”
Mortgage rates are lower than the main inflation rate.
The Democrats didn’t lower credit card rates. Under Obama, a bank might pay .4% on a CD and charge 25% on a credit card. They really don’t care about most people.
It’s so true.
Trump in the WH = better world.
Peace and prosperity should be his slogan.
At my local Aldi milk is $3.05/gallon and eggs are $2.62/dozen.
Africa bought into the liberal 'greenie' crap too - now their power grids are collapsing. Whatever liberals touch dies...
[Whatever liberals touch dies...]
And it many cases, appears to NOT be by accident, either.
Not surprising so many of them buy into spirit of antichrist agendas. Perhaps they’re just doing the work of their real father (John 8:44).
[Peace and prosperity should be his slogan.]
Just be concerned when “Peace and Security” become the slogan for the world; because the bigger surprise is about to come.
Truth be told, this was also sold by Hillary, Barry, Tony Blair, George Mitchell, the clueless leading the United Nations, etc. etc. etc.
It IS where the world is heading. It shall not be avoided. Once it starts, there will be no turning it off - all the way to the Real Armageddon.
Few will believe me until it is too late. Because it (Peace and Security) does sound like it makes sense.
That would help around the margins for sure.
The wife returned from the grocery store yesterday saying that in less than the last month prices on just about everything have gone up. Usually it is either 50 cents or a dollar. Quantities are also getting steadily smaller.
For example, the latest rise in feeder cattle price is less than 40 cents in the last year or so. Translating that to butchered price at 41% cut yield is just less than a dollar increase in prices. This latest increase in feeder prices has not yet made its way to the grocery store. It will. Cattle numbers are at a low since 1962. Unless we eat a lot of something else prices will go up more.
Feed lot cattle prices. The cattle frenzy of 2014 died down a bit in ‘16 only to take off again in ‘21:
https://www.investing.com/commodities/feed-cattle
FRED ground beef price history through January. Since 2010 selling beef has been a very good business to be in:
https://fred.stlouisfed.org/series/APU0200703112
Here is an interesting tabulation I’ve not seen before:
https://www.ams.usda.gov/mnreports/lsmngfbeef.pdf
Bidenflation is killing us. Coupled with the bideneconomy bashing the markets it is burying us.
Wait until all your transactions are digital & the government compares your medical records with your purchase of ice cream & you are obese.
Buying supplies to have a birthday party for a grand child?
Doesn’t matter-—your purchase will be denied
Have a drunk driving record? Your liquor purchase will be denied.
Have COPD???Your cigarette purchase will be denied.
I could go on & ON-—
So can all here-—IF YOU THINK ABOUT IT FOR AWHILE.
Mortgage rates——
That is like saying “YOU ARE ONLY A LITTLE BIT PREGNANT——”
I still think CRYPTO is at the center of the bank failures.
Add to the soaring cost of groceries the skyrocketing cost of energy. The average household in the UK will be struggling not only to put food on the table, but keep from freezing.
Ever since the end of WW2 the English have been rationing.
Socialism caused this.
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