UK Supermarket Sales Surge by 5.4%, According to NIQ Market Research

Total sales at British supermarkets increased by 5.4% year on year in the four weeks ending March 23, as falling inflation encouraged buyers to spend more, according to industry figures released Wednesday.

According to market research firm NIQ, the growth was slightly larger than the 5.3% rise reported a month earlier.

Mike Watkins, NIQ's UK head of retailer and business insight, stated that a drop in food costs in March, combined with supermarket competition, helped 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 added.

Paraphrasing text from "Investing UK" all rights reserved by the original author.