Sainsbury's has cut the number of products in its price match campaign by 115, dropping from 681 items to 566, though the company claims it matches 606 items. This reduction comes as food inflation increased by 3.3% in January, further impacting consumers already facing rising costs. Tesco and Asda have also reduced their number of matched items, reflecting a trend among major UK supermarkets amidst surging inflation. The economic outlook appears grim, with experts warning of more price hikes on the horizon and advising caution for investors in UK markets.
Sainsbury's has reduced the number of items in its price match campaign from 681 to 566, while officially stating it matches 606 items. This follows rising food inflation.
UK inflation rose to its highest level in 10 months, reaching 3% in January, driven mainly by increasing food costs, as supermarkets reduce price match items.
Experts warn of even higher prices ahead, indicating the grocery sector's struggles amid food inflation and diminishing price match items.
Scott Gallacher emphasizes the uncertainty in the UK economy, advising caution for investors reliant on UK assets as inflation rises and price matching decreases.
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