Supermarket inflation fell at its fastest monthly rate on record in December as household spending on groceries rose to a new high, according to the market researcher Kantar (The Times £). UK grocery price inflation fell at the fastest pace on record in December, according to data from research company Kantar, the latest evidence of a significant retreat in price growth in Britain (Financial Times £). Food price inflation has fallen at its fastest pace on record, fuelling hopes that the Bank of England will be able to start cutting interest rates in the coming months (Telegraph £).

Supermarket inflation has seen its fastest monthly drop on record as the average household spent an all-time high of £477 on groceries in December (Daily Mail). UK shoppers spent £13.7bn on groceries in the run-up to Christmas – 7% more than a year before – as they sought out bargains and switched to discounters to try to offset price inflation (The Guardian).

Price cuts to lure shoppers helped supermarkets rake in record revenues ahead of Christmas, according to industry data (Sky News). Supermarkets experienced their busiest Christmas period since 2019, boosted by promotions, new research suggests (BBC).

Aldi and Lidl joined Sainsbury’s and Tesco as the biggest winners in Britain’s fierce Christmas supermarkets battle, industry data suggests. (The Times £)

Dutch supermarket chain Jumbo has said shoplifting exceeded its annual profits last year, highlighting how the cost of living crisis has driven up crime and is hurting businesses. (Financial Times £)

Households received the biggest boost to their spending power in more than two years in November, driven by a fall in inflation that was faster than expected and strong wage growth, research has shown. (The Times £)

Business confidence weakened in December as executives turned more pessimistic about the outlook for the British economy in 2024, a closely-watched survey suggests. (Daily Mail)

More than half of Britain’s companies expect an increase in turnover over the next year, the highest proportion since the start of 2022, in a further sign of a tentative recovery in business confidence (The Times £).

The soaring cost of living led to a rise in withdrawals from cash machines last year as people returned to using physical money to manage their budgets, research suggests. (The Times £)

Ella Mills has grown theDeliciously Ella food range to include more than 100 plant-based, additive-free products. In seven years they’ve sold nearly 88 million units. One DE product is sold every second. “From January they’ll be stocked by Asda and Co-o — that’s every supermarket chain in the country,” she says. (The Times £)

Topics