World
UK grocery inflation eases slightly to 17.3% in April -Kantar
LONDON, April 25 (Reuters) – British grocery inflation edged decrease in April however remained close to report highs, business information confirmed on Tuesday, offering little reduction for shoppers being hammered by a cost-of-living disaster.
Market researcher Kantar mentioned grocery inflation was 17.3% within the 4 weeks to April 16, down from the report 17.5% in its March information set.
It mentioned April noticed a tenth month in a row of double digit grocery worth inflation, with costs rising quickest in markets corresponding to eggs, milk and cheese.
“The newest drop in grocery worth inflation will probably be welcome information for customers but it surely’s too early to name the highest,” Fraser McKevitt, Kantar’s head of retail and client perception, mentioned.
“We’ve been right here earlier than when the speed fell on the finish of 2022, just for it to rise once more over the primary quarter of this yr,” he mentioned.
The Kantar information for April gives the hottest snapshot of UK grocery inflation.
Official UK information printed final week confirmed total client worth inflation fell to 10.1% in March. Nevertheless, costs of meals and non-alcoholic drinks have been 19.1% greater in March than a yr earlier, the largest such rise since August 1977.
The British Retail Consortium, which represents the foremost grocery store teams, has mentioned it expects client meals costs to begin coming down over the following few months, whereas the Financial institution of England has forecast total inflation will drop to beneath 4% by the tip of the yr.
Kantar mentioned UK grocery gross sales rose 8.1% over the 4 week interval year-on-year.
It mentioned Britons have been persevering with to show to supermarkets’ personal label strains, that are normally cheaper than branded merchandise, to assist handle spending.
Personal-label gross sales have been up 13.5% year-on-year with the very least expensive worth own-label strains up 46%, whereas branded gross sales have been up 4.4%.
Discounters Aldi and Lidl each hit report market shares over the 12 weeks to April 16, at 10.1% and seven.6% respectively.
Lidl was the quickest rising grocer with gross sales up 25.1%, whereas Aldi’s rose 25.0%.
“Customers are persevering with to buy round, visiting not less than three main retailers each month on common. The discounters have been huge beneficiaries of this,” added McKevitt.
UK grocers’ market share and gross sales development (%)
Source: Kantar
Reporting by James Davey; enhancing by Jonathan Oatis
Our Requirements: The Thomson Reuters Belief Rules.
World
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World
Israel moves towards ceasefire deal with Hezbollah: reports
Israel is reportedly moving towards a ceasefire agreement with Hezbollah in Lebanon after nearly a year of fighting escalated into an all-out war in September.
Israeli media outlets including YNET and Haaretz have reported that Israel has tentatively agreed to a U.S.-backed proposal for a ceasefire. No final deal has been reached, according to the reports.
Lebanon and the militia group Hezbollah reportedly agreed to the deal last week but both sides need to give the final okay before it can materialize.
The reported ceasefire deal comes after Hezbollah launched one of its largest rocket attacks on Israel in exchange for Israeli forces striking Hezbollah command centers in Beirut.
This is a developing story. Check back for updates.
World
Yamandu Orsi wins Uruguay’s run-off presidential election
Yamandu Orsi, the candidate for the left-wing Broad Front coalition, is projected to emerge victorious in Uruguay’s run-off election for the presidency.
He bested Alvaro Delgado of the ruling National Party to win the tightly fought race, though public opinion polls showed the two candidates in a dead heat in the lead-up to Sunday’s vote.
Orsi’s supporters took to the streets in the capital of Montevideo, as the official results started to show the former mayor and history teacher surging ahead.
Many waved the party banner: a red, blue and white striped flag with the initials FA for “Frente Amplio”, which translates to “Broad Front”.
“Joy will return for the majority,” the coalition posted on social media as Orsi approached victory. “Cheers, people of Uruguay.”
Orsi’s win restores the Broad Front to power in the small South American country, sandwiched on the Atlantic coast between Brazil and Argentina.
For 15 years, from 2005 to 2020, the Broad Front had held Uruguay’s executive office, with the presidencies of Jose Mujica and Tabare Vazquez, the latter of whom won two non-consecutive, five-year terms.
But that winning streak came to an end in the 2019 election, with the victory of current President Luis Lacalle Pou, who led a coalition of right-leaning parties.
Under Uruguay law, however, a president cannot run for consecutive terms. Lacalle Pou was therefore not a candidate in the 2024 race.
Running in his stead was Delgado, a former veterinarian and Congress member who served as a political appointee in Lacalle Pou’s government from 2020 to 2023.
Even before the official results were announced on Sunday, Delgado had conceded, acknowledging Orsi’s victory was imminent.
“Today, the Uruguayans have defined who will hold the presidency of the republic. And I want to send here, with all these actors of the coalition, a big hug and a greeting to Yamandu Orsi,” Delgado said in a speech as he clutched a large Uruguayan flag in his hand.
He called on his supporters to “respect the sovereign decisions” of the electorate, while striking a note of defiance.
“It’s one thing to lose an election, and another to be defeated. We are not defeated,” he said, pledging that his right-wing coalition was “here to stay”.
The outgoing president, Lacalle Pou, also reached out to Orsi to acknowledge the Broad Front’s victory.
“I called [Yamandu Orsi] to congratulate him as president-elect of our country and to put myself at his service and begin the transition as soon as I deem it pertinent,” Lacalle Pou wrote on social media.
Orsi had been considered the frontrunner in the lead-up to the first round of the elections.
Originally from Canelones, a coastal regional in the south of Uruguay, Orsi began his career locally as a history teacher, activist and secretary-general of the department’s government. In 2015, he successfully ran to be mayor of Canelones and won re-election in 2020.
In the 2024 presidential race, Orsi – like virtually all the candidates on the campaign trail – pledged to bolster Uruguay’s economy. He called for salary increases, particularly for low-wage workers, to grow their “purchasing power”.
He also called for greater early childhood education and employment programmes for young adults. According to a United Nations report earlier this year, nearly 25 percent of Uruguay’s children live in poverty.
But the economy was not the only issue at the forefront of voters’ minds. In a June survey from the communications firm Nomade, the largest share of respondents – 29 percent – identified “insecurity” as Uruguay’s “principal problem”.
That dwarfed the second-highest ranked topic: “Unemployment” was only picked by 15 percent of respondents.
As part of his platform, Orsi pledged to increase the police force and strengthen Uruguay’s borders, including through the installation of more security cameras.
As he campaigned, Orsi enjoyed the support of former President Mujica, a former rebel fighter who survived torture under Uruguay’s military dictatorship in the 1970s and ’80s.
Mujica remains a popular figure on Uruguay’s left, best known for his humble living arrangements that once earned him the moniker of the “world’s poorest president”.
In the first round of voting, on October 27, Orsi came out on top, with 44 percent of the vote to Delgado’s 27 percent. But his total was far short of the 50 percent he needed to win the election outright, thereby triggering a run-off.
The race got tighter from there forward. Only two candidates progressed to the run-off – Delgado and Orsi – and Delgado picked up support from voters who had backed former Colorado Party candidate Andres Ojeda, a fellow conservative who was knocked out in the first round.
Nevertheless, Orsi quickly pulled ahead after the polls closed for the run-off election on Sunday.
“The horizon is brightening,” Orsi said in his victory speech. “The country of freedom, equality and also fraternity triumphs once again.”
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