Grocery price inflation increased at its slowest rate in more than two years, according to new industry data.
Supermarket price inflation was 4.5% in the four weeks to 17 March, according to research by Kantar, which was down from February’s rate of 5.3% and the lowest inflation since February 2022.
“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 (LSE:OCDO) enjoyed the strongest growth among retailers, with sales jumping 9.5%.
Sales at Tesco PLC (LSE:TSCO) and J Sainsbury PLC (LSE:SBRY) climbed by 5.8% and 6.7% respectively during the quarter, increasing both their markets shares.