UK grocery inflation drops below 10% for first time in months as prices fall on some items
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UK grocery inflation fell to 9.7% in the 4 weeks to Oct 29, down from 11% the previous month. This is the first time inflation has been below 10% since July 2022.
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Prices are falling in some categories like butter, dried pasta and milk, but rising fastest in eggs, confectionery and frozen potatoes.
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Grocery sales grew 7.4% year-on-year in the 4 weeks to Oct 29. Own label sales grew 8% and branded 6.7%.
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Promotions hit record levels, making up 27.2% of total grocery sales.
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Separate data showed UK consumer spending grew at its slowest pace in over a year in October, reflecting cost of living concerns ahead of Christmas.