Seven out of ten UK households fear cost-of-living hit -NielsenIQ

After a tough 2022, British consumers are facing an even tighter squeeze on their finances this year. Inflation is running at 10.5%, mortgage rates are rising and the government is cutting back support on household energy bills.

NielsenIQ said UK grocery sales on a value basis rose 7.6% in the four weeks to Jan. 28, due to an increase in food price inflation to 13.8%.

However, volume sales fell 6.9% - the lowest volume growth recorded in over nine months, which reflects the concern shoppers have about cost-of-living increases, it said.

“We expect a challenging first quarter for the grocery industry, with inflation very much top of mind for shoppers," Mike Watkins, NielsenIQ’s UK head of retailer and business insight, said.

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