Monday, 12 June 2023

Inflation Across Europe

Loo roll, butter and ketchup are more expensive in the UK compared to some of our biggest European neighbours, research for the BBC suggests. But the UK is the cheapest for nappies and frozen pizza, consumer analysts Circana found. We compared the prices of 23 food and non-food items in France, Germany, the UK, Italy, Spain and the Netherlands. When we added up the cost of buying them all, Germany came out as the cheapest and France the most expensive. British households' budgets are being squeezed as overall food prices remain 19% higher than a year ago. The main UK supermarkets have denied making extra profits from high prices and many have already been cutting the price of items like bread and butter. But Ananda Roy at Circana thinks retailers can go further. "The prospect for UK households to continue paying more than they do already, even if inflation levels out, is untenable for many," said the global senior vice president of strategic growth insights. "As commodity prices come down steadily, there is potential for retailers and brands to do more for hard-pressed consumers in the UK," added Mr Roy.