money but all of the ingredients cost more and more. and for people buying it for your lunch, it can be a treat, and maybe it s a bit too expensive for some people. then it is at a cafe expensive for some people. then it is at a cafe in expensive for some people. then it is at a cafe in derby expensive for some people. then it is at a cafe in derby to expensive for some people. then it is at a cafe in derby to find - expensive for some people. then it is at a cafe in derby to find out - is at a cafe in derby to find out more. what have you got there? i more. what have you got there? i wish i could say was organised enough wish i could say was organised enough to make it myself. it s a cheese enough to make it myself. it s a cheese sandwich, classic but not made cheese sandwich, classic but not made by cheese sandwich, classic but not made by me. it s been made by the staff here made by me. it s been made by the staff here at the lemon tree cafe in derby staff here at
retailers, the markets are fairly brilliant, if you like. i like your sunny outlook but there is still a long way to 90, there is still a long way to go, isn t there? the target is 2% for most central banks for inflation and yet around 10% of the uk, it s around 6% in the us, and so all of that has to match, doesn t it? before banks are going to neutralise borrowing costs? that s absolutely borrowing costs? that s absolutely right. - borrowing costs? that s absolutely right. the i borrowing costs? that s| absolutely right. the us borrowing costs? that s - absolutely right. the us has very much a big head start when it comes to peak inflation. there inflation peaked injune, july in the summer whereas here in the uk and we have the energy price cap, uncertainty, yes energy prices have fallen back quite sharply but grocery price inflation is still very, very high. and markets are very much a front running mechanism and i think at the moment what they are doing as they are pricing in the
to do so because of the government. good to talk to you. new figures show british households spent more than £12 billon on groceries over christmas, the highest amount on record. however, market researcher kantar says grocery price inflation is the real driving factor behind the figure, as opposed to increased purchasing. joining me now is fraser mckevitt, kantar s head of retail and consumer insight. with all the discussion of the cost of living, it is no surprise that it is inflation that is driving this figure, ratherthan is inflation that is driving this figure, rather than people deciding to splash out more this christmas? yes, i think for the supermarket industry, these record numbers for december will be bittersweet. because it is all out of people having to spend an awful lot more on groceries. that, of course, is not making anything comfortable for anybody. and it s notjust food prices going up. energy prices and virtually everything else in our life is getting more expensive