Food and drink prices to rise in the UK as inflation soars
Wednesday, November 10, 2021
Supermarket prices rose at the fastest rate in over a year in October amid a supply chain breakdown and a shortage of drivers, Kantar figures showed.
A new survey by Kantar indicates inflation hit 2.1 percent in October, its highest level since August 2020.
Fraser McKevitt, retail and consumer information director at Kantar, said: 'Grocery prices are rising and this month inflation hit its highest rate since August 2020, when retailers were still cutting promotions to maintain stock on the shelves.
'With certain categories' prices increasing, it is possible to assume that shoppers continue to head to, and shop around, several supermarkets to find the best deals, 'said Fraser McKevitt, head of retail and consumer information at Kantar.
The fault has also led to shortages of some products in the last couple of months.
Grocers have been pushing up prices to compensate for the rising costs of transportation, fuel, power, inventory and wages as living costs are also rising.
Online sales also stabilised last quarter, making up 12.4% of the grocery market for the second consecutive month.