UK grocery inflation higher again as countdown to Christmas begins [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
Market researcher Kantar said annual grocery price inflation was 2.3% in the four weeks to Nov. 3, having been 2.0% in the previous four-week period. The data showed prices are rising fastest in products such as chilled soft drinks and chocolate confectionery, and falling fastest in items such as toothbrushes, household paper products and sparkling wine. UK supermarkets have warned that tax rises in the new Labour government's first budget last month, together with another rise in the national minimum wage, will be inflationary. Official data published last month showed overall UK inflation eased to 1.7% in September. Data for October will be published Nov. 20. Kantar said grocery sales rose 2.3% over the four week period year-on-year to 11.6 billion pounds ($14.9 billion) - the biggest sales month of the year so far. The researcher said there were signs that some consumers were starting their Christmas shopping early. It noted that 648,000 shoppers have already bought a Ch
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