Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

UK supermarket sales rise 5.4%, NIQ market researcher says

Published 04/03/2024, 03:20 AM
Updated 04/03/2024, 03:26 AM
© Reuters. A woman looks at wine bottles displayed on a shelf in a supermarket in London, Britain, May 19, 2022. REUTERS/Kevin Coombs/File Photo

LONDON (Reuters) - British supermarket total sales rose by 5.4% year-over-year in the four weeks to March 23 as slowing inflation encouraged shoppers to increase their purchases, industry data showed on Wednesday.

The increase was slightly stronger than the 5.3% rise reported a month earlier, market researcher NIQ said.

Mike Watkins, NIQ’s UK head of retailer and business insight, said a fall in food prices in March and competition amongst the supermarkets boosted sales.

"However, overall consumer spend remains under pressure as many household bills continue to increase above (inflation) and this is reflected in the continued weak consumer confidence," he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.