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Supermarkets spooked by food inflation figures
September 28, 2022
|Evening Standard
ALARM bells rang over some of the London market's best-known high street names today, with retailers and banks hit hard by fresh inflation worries and the outlook for UK interest rates.
Supermarket chains were spooked by numbers from the British Retail Consortium (BRC) that showed soaring food prices leading shop inflation to new records.
Tesco, the country's biggest single retailer, fell 6p to 210p, the stock's lowest price since early 2019. Sainsbury, one of Tesco's main rivals, lost 7p to 182p, its lowest since 2020. Both companies face strong competition from the German discount chains Aldi and Lidl, who are gaining market share fast as household budgets are squeezed hard.
هذه القصة من طبعة September 28, 2022 من Evening Standard.
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