As shoppers watch what they put in their baskets – don’t expect food price rises to end soon

Companies expect inflation to hit a peak in the second half of the year, writes Chris Stevenson

The prices of everyday goods and services have soared in the past year (PA Wire)

Nine out of 10 Britons are said to be increasingly watching what they are spending as the cost-of-living crisis bites.

Forty-nine per cent of consumers are feeling less secure about meeting day-to-day expenses within the next six months, according to data from market researcher NielsenIQ.

These findings were underpinned by the 4.1 per cent fall in UK supermarket sales volumes, year-on-year, in the four weeks to 16 July, with Nielsen detailing a 9.4 per cent dip in sales volumes of meat, fish and poultry, an 8.1 per cent fall in household items and a 6.4 per cent drop in packaged groceries. All of which is not totally surprising when you consider that inflation is inching towards double figures.