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☆ Britain’s broken egg industry shows the price of food inflation
▼ + stars: | 2022-12-19 | by ( James Davey | ) www.reuters.com time to read: +5 min

LONDON, Dec 19 (Reuters) - In Britain, the damage wrought by rampant inflation can be seen in the fate of the humble egg. With war in Ukraine driving energy and chicken feed costs higher, farmers say what they get paid is no longer enough, upending the economics of a key food staple. Driven by consumer demand, British egg producers have for years focused on free range, which now represents 70% of the market. That, combined with a cost-of-living crisis fuelled by soaring food and energy costs, limits their room for manoeuvre, retailers say. Yet egg producers say that while the supermarkets have raised retail prices and paid farmers more, that increase is not enough to cover exploding costs.

☆ Cash use slips to just 15% of British purchases in 2021
▼ + stars: | 2022-12-09 | by ( David Milliken | ) www.reuters.com time to read: +2 min

LONDON, Dec 9 (Reuters) - British shoppers used cash in only 15% of transactions in 2021, half the level of the year before and down from nearly 40% before the COVID-19 pandemic, retailers said on Friday. The British Retail Consortium said government advice to go contactless during the pandemic, as well as a surge in online shopping, had accelerated an existing shift away from cash. Adjusting for the smaller average size of cash transactions, notes and coins were used to pay for just 8% of retail spending last year, the BRC said. It said at the time that 5.4 million adults relied heavily on being able to make cash transactions. Overall, the BRC said accepting card payments cost its members 1.3 billion pounds ($1.6 billion) last year.

☆ UK consumer spending fails to keep pace with inflation: surveys
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

LONDON, Dec 6 (Reuters) - British consumer spending ticked up last month at a rate that greatly lagged behind inflation, according to surveys on Tuesday that underscored the pressure on household budgets ahead of the Christmas holidays. Barclaycard said spending on its credit and debit cards rose 3.9% year-on-year in November, far behind the annual 11.1% increase in consumer prices in October that was the highest reading in 41 years. Some 94% of Britons surveyed by Barclaycard said they were concerned about the impact of soaring household energy bills on their personal finances. Many Brits intend to reduce festive spending on presents and parties in an effort to save money," said Esme Harwood, director at Barclaycard. However, sales growth remained far below current inflation, suggesting volumes continued to be down on last year," said BRC chief executive Helen Dickinson.

☆ Britain's grocery inflation falls for first time in 21 months -Kantar
▼ + stars: | 2022-12-06 | by ( James Davey | ) www.reuters.com time to read: +2 min

LONDON, Dec 6 (Reuters) - British grocery inflation edged lower in November, a first decline in nearly two years, but remained near record highs, providing little relief for consumers ahead of the key Christmas trading period, industry data showed on Tuesday. Market researcher Kantar said grocery inflation in the four weeks to Nov. 27 was 14.6%, down 0.1 percentage points from October's record high, marking the first fall in 21 months. Prices are rising fastest in markets such as milk, dog food and butter, said Kantar. It said grocery sales rose 5.9% year-on-year in the 12 weeks to Nov. 27, masking a drop in volumes once inflation is accounted for. Kantar said its data did not indicate a significant boost to sales from the soccer World Cup, which started Nov. 20.

☆ UK fresh food prices climb record 14.3% in November – BRC
▼ + stars: | 2022-11-30 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

The British Retail Consortium (BRC) said fresh food prices were 14.3% higher this month than a year ago. Other food item prices surged at the fastest pace on record to 12.4% in November, up from 11.6% the month before, it said. Overall shop price inflation rose to 7.4%, a record for the index which started 17 years ago, and up from 6.6% in October. "Food prices have continued to soar, especially for meat, eggs and dairy, which have been hit by rocketing energy costs, and rising costs of animal feed and transport," she said. Market research firm NielsenIQ, which co-produces the data, said Christmas will become more expensive as higher prices are already forcing consumers to limit spending on non-essential items.

☆ British grocery inflation hit record 14.7% in October -Kantar
▼ + stars: | 2022-11-08 | by ( James Davey | Lucy Craymer | ) www.reuters.com time to read: +2 min

SummarySummary Companies Too early to call peak of inflation, Kantar saysBritons face 682-pound jump in annual grocery billSales of cheapest-value own-label ranges soarDiscounters Aldi, Lidl are fastest growing grocersLONDON, Nov 8 (Reuters) - British grocery inflation hit 14.7% in October, another new record, and it is still too early to call the ceiling, market researcher Kantar said on Tuesday. It said UK consumers would face a 682-pound ($785) jump in their annual grocery bill if they continued to buy the same items. Kantar said 27% of UK households reported that they are struggling financially - double the proportion it recorded last November. Kantar said grocery sales rose by 5.2% on a value basis in the 12 weeks to Oct. 30 year-on-year - masking a drop in volumes once inflation is accounted for. Sales of own-label goods, which are generally cheaper than branded goods, jumped 10.3% over the four weeks to Oct. 30, while sales of branded goods rose 0.4%.

LONDON, Nov 8 (Reuters) - British businesses fear a gloomy Christmas ahead, as almost half of households plan to cut festive spending due to the soaring cost of living and sales are already falling sharply in inflation-adjusted terms. "Christmas will come later than last year for many and there may be more gloom than glitter as families focus on making ends meet, particularly as mortgage payments rise," BRC chief executive Helen Dickinson said. The BRC's measure of like-for-like sales, which adjusts for changes in retailers' floor space, slowed to 1.2% in October from September's 1.8%. "The small rise in sales masked a much larger drop in volumes once inflation is accounted for," the BRC said. Britain's official retail sales data, which cover more shops than the BRC figures and is adjusted for inflation, showed sales volumes excluding fuel dropped 6.2% year-on-year in September.

☆ UK fresh food prices rise 13.3% in year to October - BRC
▼ + stars: | 2022-11-02 | by ( David Milliken | ) www.reuters.com time to read: +1 min

LONDON, Nov 2 (Reuters) - The cost of fresh food in British shops last month was 13.3% higher than a year earlier, the biggest annual increase in records going back to 2005, the British Retail Consortium said on Wednesday. The BRC, a trade body, said its broader measure of shop price inflation picked up to 6.6% in October from 5.7%, while food prices overall rose 11.6%, as the cost of less perishable foodstuffs rose more slowly than prices for fresh items. "It has been a difficult month for consumers who not only faced an increase in their energy bills, but also a more expensive shopping basket," BRC chief executive Helen Dickinson said. Outsize rises in the cost of food have come under particularly close attention, and some anti-poverty and anti-obesity charities have reported that shoppers are turning to more calorific processed foods to save money. The BRC said retailers were under pressure from rising energy bills, staff costs and commodity prices, and urged the government to freeze a planned 800 million pound rise in business property taxes, which shops would pass on to customers.

☆ British online furniture seller Made.com suspends trading amid last-ditch rescue talks
▼ + stars: | 2022-11-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

A view of a Made.com high street shop in central London on October 28, 2022 in London, England. Chris J Ratcliffe | Getty Images News | Getty ImagesLONDON — Millennial-oriented furniture retailer Made.com on Tuesday suspended trading of its shares on the London Stock Exchange, after failing to agree a rescue deal before a November deadline. However, customers also grumbled about long delivery times on some items, particularly as global supply chain issues intensified in 2021. Tough conditions"Customers are shying away from big-ticket items," said Sophie Lund-Yates, lead equity analyst at financial services firm Hargreaves Lansdown. "When the cost of living becomes untenable, buying expensive furniture is delayed, and that's exactly the pattern we've seen play out for Made.com."

☆ Air fryers, blankets and warm clothes: Brits stock up ahead of tough winter
▼ + stars: | 2022-10-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesLONDON — U.K. retail sales rose in September, data published Tuesday showed — but the details highlighted the multitude of challenges facing the public heading into the winter months. And consumers eschewed big purchases like computers, TVs and furniture, instead boosting sales of items like blankets, warm clothing and energy-efficient household appliances, such as air fryers. watch nowDickinson said the retail sales data showed households were preparing themselves for the higher energy prices. A survey by consultancy GFK showed U.K. consumer confidence dropped to the lowest level since it began readings in 1974 for the fourth time in a row in September. Figures also published Tuesday showed U.K. unemployment fell to 3.5% in the period from June to August, and the number of unemployed people per job vacancy was at a record low of 0.9.

☆ Britons turn to electric blankets and candles as winter looms
▼ + stars: | 2022-10-11 | by ( Sarah Young | ) www.reuters.com time to read: +4 min

Market research released on Tuesday showed that grocery inflation hit another new record of 13.9% in September, deepening the cost-of-living crisis, while BRC-KPMG data showed people were investing in items to help them save cash. Nine out of 10 people surveyed by Barclaycard in Britain from Sept. 23-26 said they were concerned about household energy bills. Over half of those surveyed by Barclaycard said they were planning to cut down on discretionary spending so they can afford their energy bills this winter, with nights out most likely to be canned. Rival JD Wetherspoon's said last week that its sales had been boosted by young people drinking cocktails and spirits. Coffee and sandwich chain Pret A Manger said on Tuesday that it would raise staff pay for a second time this year.

☆ UK consumer spending lags far behind inflation, BRC and Barclaycard surveys show
▼ + stars: | 2022-10-10 | by ( Andy Bruce | ) www.reuters.com time to read: +1 min

LONDON, Oct 11 (Reuters) - British consumer spending grew last month at a rate that lagged behind inflation by a long way, according to surveys on Tuesday that underlined the risk of recession as the cost-of-living crisis rumbles on. Barclaycard said spending on its credit and debit cards rose 1.8% year-on-year in September, the weakest reading since February 2021 and far behind the annual 9.9% increase in consumer prices in August. Nine out of ten people surveyed by Barclaycard from Sept. 23-26 said they were concerned by rising household energy bills. "While UK retail sales grew in September, this represented another month of falling sales volumes given high levels of inflation," said Helen Dickinson, the BRC's chief executive. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andy Bruce; editing by David MillikenOur Standards: The Thomson Reuters Trust Principles.

☆ UK shop price inflation speeds up again to new high - BRC
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

LONDON, Sept 28 (Reuters) - The climb in prices charged by shops and supermarkets in Britain accelerated again in the 12 months to September, hitting its highest since records began in 2005, the British Retail Consortium said on Wednesday. Market research firm NielsenIQ, which co-produces the data, said 76% of consumers expected to be moderately or severely affected by the cost-of-living crisis over the next three months, up from 57% in the summer. Britain's consumer price index, which measures a broader range of prices than the BRC's data, hit a 40-year high of 10.1% in July before easing back to 9.9% in August. The cost of imported goods in Britain faces further inflationary pressure after a slump in the value of the pound triggered by the announcement of tax cuts by new finance minister Kwasi Kwarteng last week. Register now for FREE unlimited access to Reuters.com RegisterReporting by William Schomberg, editing by Andy BruceOur Standards: The Thomson Reuters Trust Principles.

☆ British business is grinding to a halt on Monday for the Queen's funeral, with most big chains closing
▼ + stars: | 2022-09-17 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Supermarkets, fast food chains, gas stations, and cinemas across Britain will close on Monday. Sign up for our newsletter to receive our top stories based on your reading preferences — delivered daily to your inbox. Gas stations operated by the supermarket chains will also close, with some reopening after 5pm. KFC will also close many of its restaurants until after the funeral has taken place, it said on its website. The British Retail Consortium has published a list of chains not opening on Monday here.

☆ Marea Britanie riscă să se confrunte cu o penurie de produse proaspete de Crăciun
▼ + stars: | 2020-12-22 | by ( ) www.jurnal.md time to read: +2 min

"Toate produsele pentru micul dejun tradiţional de Crăciun sunt deja în ţară şi în cantităţi mari", a informat grupul într-un comunicat. "Ne aprovizionăm cât mai mult posibil din Marea Britanie şi studiem modele de transport alternativ pentru produsele care vin din Europa", au adăugat reprezentanţii Sainsbury. În schimb, Ian Wright, directorul general de la Food and Drink Federation, este mai pesimist şi afirmă că suspendarea sosirii camioanelor din Europa în Marea Britanie "este posibil să provoace perturbări în aprovizionarea cu produse proaspete de Crăciun în Marea Britanie". Magazinele şi companiile, în general, s-au străduit să îşi facă stocuri înaintea datei de 1 ianuarie 2021, fiind îngrijorate că, în lipsa unui acord între Marea Britanie şi UE, formalităţile administrative vor provoca întârzieri în livrări. Un număr de aproximativ 10.000 de camioane tranzitează în fiecare zi Canalul Mânecii în perioadele de vârf ale cererii de dinainte de Crăciun.

Persons: Andrew Opie, Ian Wright, Boris Johnson, Crăciun, Rod McKenzie Organizations: Retail Consortium, britanici, Road, Association Locations: Europa, brocoli, Dover, UE, Brexit, Mânecii

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