Soaring food prices have failed to deter UK shoppers from buying wine to celebrate the Olympics, with new data revealing that supermarket wine sales rose by 35% on Friday, the day of the opening ceremony.
Food price inflation rose in the four weeks to August 4, according to the latest data from Kantar, after hitting its lowest rate in nearly three years in July. The rise to 1.8% was the first since March 2023, up from 1.6% last month.
While this is notable after 17 consecutive months of falling rates, it actually signals a return to the average levels seen in the five years before the cost of living crisis began, Kantar said.
It's a mixed picture on supermarket shelves with prices now rising in 182 product categories, while costs are falling in 89 others.
However, the high supermarket prices have done little to deter shoppers from raising their Olympic cups.
Wine sales on the opening Friday in Paris were up 35% compared to the previous week. Revelers also enjoyed nuts and crisps, with sales up 60% and 10% respectively.
Sporting events are a major driver of alcohol sales. England fans cheered on their team as the men’s European Championships drew to a close, spending £10m on beer on the day of the final, the highest amount spent on a Sunday for more than three years.
The UK's loyal football fans helped drive UK grocery sales during the European Championship with beer sales up 13% on days the England men's team played, while pubs saw double the amount of beer sold.
Sales of non-alcoholic and low-alcohol beer also rose by 38% on match days, many of which fell on a “school night”.
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