THE autumn heat has led to an unseasonal spike in barbecue food, stats show.
As the rate of food inflation begins to slow, there has been a surge in demand for grub to enjoy outside in the sun.
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Sales of burgers and ice cream have gone up by 19 per cent and 27 per cent respectively over the past four weeks.
It comes amid hope that the cost of the weekly shop is finally starting to ease, at least in some areas of the UK.
For the first time since last year, the prices of some essential foods are falling, according to industry data from Kantar.
Butter, which had rocketed in price, is now 16p cheaper than a year ago.
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It was one of the first products to be hit by a significant price hike — with farmers having to pass on higher costs they faced for fuel, fertiliser and extra wage demands to keep production going.
But prices are still rising on eggs, sweets and frozen potato products, such as oven chips.
Overall, grocery prices are still 11 per cent higher than in 2022. But the rate of the price increases is down from the 12.2 per cent in September — and significantly below the peak of 19 per cent last August, Kantar found.
Tom Steel, from the data analysis firm, said: “Grocery price inflation is still very high, but shoppers will be relieved to see the rate continuing to fall. For the first time since last year, the prices of some staple foods are now dropping — and that’s helping to bring down the wider inflation rate.”
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Kantar’s research also found that savvy shoppers are taking their own steps to limit rising inflation — by looking out for bargain offers and the best deals.
More than a quarter of items have been bought on promotion during the past year.
Discount chains Lidl and Aldi are also growing their rate of sales at almost twice the rate of the entire grocery sector as more shoppers try to save money.
- TIME for a late barbie is running out, according to the Met Office. A sharp temperature dip is expected from today, with some parts 10C colder by the weekend — when the first widespread overnight frost of the season is likely across central and northern areas.
METRO ‘FLAWED’
THE founder of Metro Bank said yesterday that the bailed-out lender’s reliance on high street branches meant it had a “limited future”.
Anthony Thomson said it did not have the firepower to support a roll-out of more branches and that customers were increasingly switching online.
He told Radio 4: “I think it’s a flawed strategy.”
Metro, with 76 UK branches, has been stabilised by a £925million rescue deal.
Mr Thomson, chairman from 2010 to 2012, has since helped to set up the digital ATOM BANK.
MARKETS JUMP
STOCK and bond markets flashed green yesterday, despite fears of war in Gaza.
On its best day in a month, the FTSE 100 leapt 136 points — 1.82 per cent — to 7,628.21.
The FTSE 250, which is seen as a better reflection of the UK economy, gained 395.61 — 2.25 per cent — to finish on 17,967.67.
Traders said the gains were largely linked to bets that US interest rate hikes may finally be over, and reports of China taking steps to stimulate its fragile economy — boosting wider global demand.
BoE: UK IS PUTTING IT ON CREDIT
BRITS are spending more on credit cards and taking out longer mortgages to help spread the cost of rising bills, according to the Bank of England‘s latest state of the nation report.
The central bank’s financial policy committee said there was increasing evidence that households were relying on their credit cards to afford the basic essentials.
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The Bank also warned that the full impact of high interest rates was still to be fully realised by home owners on more expensive mortgages.
However, it said that the levels of distress were not yet as great as they were in the last financial crisis in 2008.
A week after fears about the health of Metro Bank spooked investors, the Bank of England said the UK financial system was resilient.
But the Bank is tweaking the way it “stress-tests” banks and other financial institutions to check if they can cope with sudden shocks.
WINDOW IS OPEN
BRITAIN’S biggest window and door seller has called in advisers to find a rescue buyer.
Safestyle, listed on London’s junior market, is hoping either to find fresh funding or push through a sale.
Following a report by Sky News, Safestyle said it had takeover interest from a “number of different parties”.
Safestyle said support depended on a positive outcome from the process and has warned the City it must strengthen its balance sheet.
BRITS GETTING LIPPY TO BEAT THE GLOOM
THE “lipstick effect” is back — as more Brits treat themselves to affordable pick-me-ups during the cost-of-living crisis.
Figures from Barclays show health and beauty stores had a 6.9 per cent sales boost in September, their biggest rise since January.
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Analysts said this was due to consumers prioritising small indulgences, such as make-up and face masks, rather than spending on big ticket items.
Meanwhile, overall consumer card spending grew 4.2 per cent. More people have been going to the pub for the Rugby World Cup, while cutting back on takeaways.
The term “lipstick effect” was coined by Leonard Lauder, of Estee Lauder fame, who noted lipstick sales rose in economic downturns.
SUNNY SPELL A DENT FOR WINTER PROFITS
THE sunny autumn has made it harder for fashion retailers to shift warmer collections, leading to fears about dented profits.
Shares in Marks & Spencer, Next, Primark owner ABF and JD Sports all fell heavily on Monday.
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They recovered yesterday amid a wider market rally, but Clive Black, analyst at Shore Capital, said shops may struggle to sell some items at full-price.
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The fear is that retailers will have bought a load of jumpers and coats to sell in September and October and might have to discount stock heavily in order to shift them.
The sunny weather has also meant Christmas has stayed further from shoppers’ minds, with store bosses saying that fewer have started stocking up than in past years.
