Retail

In the UK, food inflation hit a record high of 13.3% in December.

Food prices hit a record high in December ahead of Christmas, new data shows.

Food inflation jumped from 12.4% in November to 13.3% in December at a time when families typically stock up on food for the Christmas and New Year holidays.

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Şok, one of Türkiye's largest hard discount retailers, will freeze prices on 1,000 items, including staple products such as rice, flour, vegetable oil, sugar and tear, until the end of January.

If other supermarkets follow suit, such a move is likely to have a positive impact on the inflation outlook, according to a consumers' association.

Winter sales will begin on Monday, January 9 and will run until February 28, the Association of Retail Enterprises (SELPE) has announced. 

It also said that on the first Sunday of the winter sales, on January 15, commercial stores will have the option of operating from 11 a.m. to 8.p.m. 

'Black Friday', the next retail sales, will take place on November 25 this year and will include major offers, market representatives said, who also welcomed the end of the interim sales that used to take place in the beginning of November.

The jump in inflation compared to last year has brought significant changes in the behavior of Greek consumers.

The Culture and Tourism Ministry will work on new strategies for boosting tourism in Türkiye via ad campaigns and promotional videos centered on attracting foreign shoppers to the country, says Sinan Öncel, chair of the United Brands' Association (BMD).

Nearly 1,4000 supermarkets operated by the Agricultural Credit Cooperatives on Aug. 15 began to offer more than 30 items, at discounted prices.

Those items include, meat, poultry, flour, sugar, rice, onions, sunflower seed oil, liquid soaps and paper towels as well as some fruits.

British retail sales by volume dropped in May as soaring inflation caused consumers to limit spending, especially on food, official data showed on June 24.

Sales fell 0.5 percent compared with a rise of 0.4 percent in April, the Office for National Statistics (ONS) said.
April's data was sharply revised lower after an initial estimate showed retail sales had jumped 1.4 percent.

Volumes in Central and Eastern Europe at the end of 2022 may exceed 12 billion euros, but the uncertainty caused by the war in Ukraine and the oncoming economic winds may affect this forecast, reveals the latest report by Colliers.

A combination of Eid al-Fitr and Mother's Day has led to an increase in retail sales, according to sector representatives.

The demand for Mother's Day shopping, to be marked on May 9, has come at a time when people already have started shopping for Eid, which will take place on May 2-4 at the end of the Muslim holy month of Ramadan.