Consumers turn to supermarkets’ cheaper own-label products; oil prices extend losses as traders worry about demand drop from China
Grocery price inflation in the UK hit 5.2% in March, the highest since April 2012, according to the latest figures from data analytics firm Kantar. As costs rise, consumers are turning to own-label products which tend to be cheaper than branded ones, and now account for 50.6% of all spending . Discount retailers Aldi achieved a record market share of 8.6% and Lidl matched its best performance at 6.4%, as both chains grew sales by 3.6%. Overall supermarket sales fell by 6.
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