China News Service, March 1 (Xinhua) According to Reuters, the international consulting company "Kantar" released a study on February 28 showing that the inflation rate of British groceries reached 17.1% in the four weeks to February 19. Another record high.
This is undoubtedly a "blow in the head" for British families who are already struggling in the cost of living crisis.
According to the study, affected by inflation, the annual shopping expenditure of British households will increase by 811 pounds (about 6758 yuan).
"Grocery inflation in the UK has been above 4% for the year to February. This is having a significant impact on people's lives," said Kantar Worldpanel head of retail and consumer insights.
Kantar’s research found that grocery prices are the public’s top financial concern after energy costs.
Food and drink prices are a higher concern than public sector strikes and climate change, 67 per cent.
In addition, 25% said they were "financially struggling," up from 20% in February 2022.
The study said the milk, eggs and margarine markets saw the fastest price increases for products.
British consumers will face greater financial pressure this year as mortgage rates rise and government support for household energy bills dwindles, Reuters reported.