Rolling coverage of the latest economic and financial news, as grocery inflation falls to 2.4%
Newsflash: UK grocery inflation has slowed to its lowest level in two and a half years.
Data provider Kantar reports that supermarket prices are 2.4% higher than a year ago this month, down from April’s 3.2%.
“Typically, an inflation rate of around 3% is when we start to see marked changes in consumers’ behaviour, with shoppers trading down to cheaper items when the rate goes above this line and vice versa when the rate drops.
“However, after nearly two-and-a-half years of rapidly rising prices, it could take a bit longer for shoppers to unwind the habits they have learnt to help them manage the cost of living crisis.
“We disagree with the findings of the PSR’s interim review. The payments industry has never been more competitive, which is reflected in the wide choice of payment options available to British consumers and businesses.
“Building and investing in the latest technologies, we power a first-class payments network which consumers, merchants and financial institutions can rely on. In its analysis, the PSR has failed to account for the significant investment required to provide a secure network which prevents billions of pounds of fraud each year.
Continue reading…Rolling coverage of the latest economic and financial news, as grocery inflation falls to 2.4%Newsflash: UK grocery inflation has slowed to its lowest level in two and a half years.Data provider Kantar reports that supermarket prices are 2.4% higher than a year ago this month, down from April’s 3.2%.“Typically, an inflation rate of around 3% is when we start to see marked changes in consumers’ behaviour, with shoppers trading down to cheaper items when the rate goes above this line and vice versa when the rate drops.“However, after nearly two-and-a-half years of rapidly rising prices, it could take a bit longer for shoppers to unwind the habits they have learnt to help them manage the cost of living crisis.“We disagree with the findings of the PSR’s interim review. The payments industry has never been more competitive, which is reflected in the wide choice of payment options available to British consumers and businesses.“Building and investing in the latest technologies, we power a first-class payments network which consumers, merchants and financial institutions can rely on. In its analysis, the PSR has failed to account for the significant investment required to provide a secure network which prevents billions of pounds of fraud each year. Continue reading…
