The latest grocery market share data and the rapidly increasing inflation in supermarkets are in focus this morning.
The Financial Times drills in to how inflation has helped Aldi and Lidl take a record share of the market as sales at the German discounters rose at fastest pace for two years. The Guardian also examines how the discounters are benefiting as consumers start to feel the pinch once again. The Telegraphfocuses more on how rising price have helped the entire grocery sector as supermarkets enjoyed their best sales growth since 2013. Grocery sales boomed by 3.8% in the 12 weeks to 21 May – the market’s best performance since September 2013 – according to Kantar Worldpanel. The Times adds that inflation left households paying £27 more for groceries during the past 12 weeks as the prices of butter, fish, fresh produce and soft drinks, such as Coca-Cola, rose.
US tobacco giant Reynolds American has said its chief executive will remain at the company after its planned $49.4bn merger with British American Tobacco goes ahead (The Telegraph).
Deliveroo is offering its drivers the option to be paid for each order they deliver, rather than per hour, in a bid to defuse the self-employment row at the takeaway delivery firm (The Telegraph).
The Telegraph reports on Brewdog annual accounts published back in March, adding the punk brewer expected 2017 sales to surge past last year’s £72m thanks to major expansion plans and further growth into Asia. The Times also reports the old figures with the headline ‘Sales keep pouring in at BrewDog’.
In the wider economy, The Financial Times highlighted the alarming rise of borrowing on credit cards in the UK, growing at the fastest pace in 11 years. The figures are fuelling Bank of England concerns that the rapid increase is unsustainable.
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