Proactive Investors - Grocery price inflation increased at its slowest rate in more than two years over the course of March, at 4.5%.
As reported by Kantar, this was the smallest increase seen since February 2022, with the figure dropping from February’s rate of 5.3%.
Branded goods sales outdid those of own-labelled products, according to the market researcher, while demand for premium own-branded goods rocketed.
“Grocery inflation has come down significantly since hitting an eye-watering peak of 17% in March 2023,” Kantar consumer insight head Fraser McKevitt commented.
“However, despite this continued slowdown, many British households are still feeling the squeeze.”
Overall sales increased by 4.6% over the same four-week period to March 17, Kantar said.
For the quarter to March, Ocado Group PLC (LON:OCDO) enjoyed the strongest growth among retailers, with sales jumping 9.5%.
Tesco PLC (LON:TSCO) and J Sainsbury PLC (LON:SBRY)'s sales climbed by 5.8% and 6.7% respectively during the quarter.