It was a day for grim inflation readings in Europe, as one report showed the surge in costs at grocery stores in the U.K.
Data from Kantar, covering the four weeks ending Feb. 19, showed grocery inflation reached 17% year-over-year, which it said was the highest it’s ever recorded. That comes even before the latest supply crunch to hit the U.K. as tomatoes and other key vegetables were in short supply. Kantar did say that the pack limits imposed by grocery stores are not likely to have made a drastic impact, since most fruit and vegetable purchases are in small quantities.
