UK grocery price inflation fell to a 30-month low in April, according to data that pointed to an easing of the cost of living crisis that has hit millions of households since late 2021 (Financial Times £). Grocery inflation fell to a 30-month low in April, helped by a rise in promotional spending from consumers, according to the latest figures from Kantar, the market researcher (The Times £). Grocery price inflation in Great Britain has slowed to 3.2%, the lowest since November 2021, as the cost of toilet rolls, butter and milk fell and people spent more on store promotions (The Guardian). The pace of grocery price growth slowed for the 14th month in a row in April, industry data shows, driving further optimism over Britain’s rapidly easing inflationary pressure (Daily Mail).

Promotional offers by supermarkets were a major factor behind a further easing of grocery inflation over the past month, according to industry data. (Sky News)

Asda has suffered a slump in grocery sales, making it the only one of the traditional “Big Four” supermarkets in Britain to lose market share over the last three months. (Telegraph £).

Ocado was yesterday named the UK’s fastest growing supermarket for a second month in a row – while Asda is the only major player to see sales fall. (Daily Mail £)

Associated British Foods, the owner of one of the UK’s biggest bread makers, has warned of potentially higher prices as it expects “very small” grain harvests in the UK, making the company more reliant on imports. (The Guardian)

Profits jumped more than a third at the owner of Primark as the sprawling business returned to “some normality” in its first half following years of supply chain upheaval, sending its shares up almost a tenth (Financial Times £). The boss of Primark’s parent company believes the “dust has settled” after several years of “firefighting” as a recovery in margins enabled it to raise annual profit forecasts (The Times £). Associated British Foods shares soared on Tuesday as the Primark owner forecast ‘significant growth’ in profits this year after a jump in first half earnings (Daily Mail).

Investors in Getir, the grocery delivery app which at one point attained a valuation of almost £10bn, are to inject yet more money into the company to fund its exit from the UK and Europe. (Sky News)

THG has been boosted by a strong performance from its beauty business as the group presses ahead with efforts to revive its stock market valuation (The Times £). THG expects first-half revenues to grow after sales were boosted by a ‘standout’ performance from its beauty division in the first three months of 2024 (Daily Mail).

Toasting marshmallows over a campfire has just become even sweeter after judges ruled the treats should be free from VAT (Telegraph £). A food company has won a sweet-tasting victory against the UK tax authorities after a court decided that it did not have to pay VAT on its marshmallows because they were not confectionery (The Guardian).

Petrol prices across the UK have hit an average 150.1p a litre, reaching the highest level since last November, according to the AA motoring group. (BBC)

The new chief executive of AG Barr is to receive a £130,000 relocation package to help him buy a property in Scotland. (The Times £)

Farmers in Latin America are rushing to plant cocoa as the price of chocolate’s main ingredient soars amid a global shortage of supplies. (Financial Times £)