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UK grocery inflation eases slightly to 17.3% in April -Kantar

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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.

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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.

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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 (%)

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Source: Kantar

Reporting by James Davey; enhancing by Jonathan Oatis

Our Requirements: The Thomson Reuters Belief Rules.

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Deshaun Watson’s Massive Contract Keeps Browns Hamstrung

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Deshaun Watson’s Massive Contract Keeps Browns Hamstrung

The Cleveland Browns are sticking with Deshaun Watson. They have no other choice.

The NFL team is expected to keep the embattled star quarterback on the roster after restructuring his contract for a third time in three seasons. The Browns may have buyer’s remorse for doling out his historic $230 million fully guaranteed deal, but they continue to get creative in managing its financial impact.

This latest restructure which Watson agreed to still calls for him to receive his $46 million guaranteed for each of the next two seasons, but it reportedly allows the Browns to spread his dead money over multiple seasons if he stays with the team through the 2026 season. This allows the Browns (3-12) to avoid a massive cap charge in 2027 when Watson is no longer under contract while adding a third and fourth void year pushing dead salary cap into 2030 (he already had two void years from previous restructures), according to ESPN.

Despite the restructuring on Friday, Watson still carries a $72.9 million salary cap hit for the 2025 and 2026 season (the second highest ever in the NFL), ballooning from his current hit of $27.9 million this season. That’s because of the previous two contract restructures over the last two years which created more than $30 million in cap space but has increased the burden on the back end of the deal.

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Watson, who suffered a season-ending right Achilles tendon injury in late October, didn’t do much to silence his naysayers this season. The 29-year-old had one of the league’s lowest total quarterback ratings through the seven games he played this season and has a record of 9-10 as the starter since joining the team. A league record $172 million dead cap hit would be triggered if Watson is released this offseason (pre June 1 designation).

The Browns are a storied franchise known for its failures and signing the three-time Pro Bowler was supposed to change the narrative. The five-year contract he signed in 2022, which included the most guaranteed money in league history, has become arguably the worst in sports history. It joins other NFL slipups including Albert Haynesworth’s $100 million bond in 2009 (one of several head-scratching moves by former Washington owner Dan Snyder) and Andre Rison’s $17 million deal in 1995 (another Browns misjudgment of signing a questionable player to an unprecedented deal).

But Watson’s deal is perhaps the worst given not just the massive contract but also that the Browns traded three first-round pick to Houston to acquire the quarterback who received an 11-game suspension in 2022 for violating the league conduct policy related to 23 sexual misconduct lawsuits filed against him by massage therapists. The most recent sexual assault allegation from earlier this year could’ve given the Browns an out for the remainder of the contract, but the league couldn’t find sufficient evidence in its investigation to nullify it.

The Browns are trying to make the most of the situation with little cash to acquire a veteran signal caller through free agency. General manager Andrew Berry and the front office haven’t committed to Watson as their long-term quarterback. But they’re not in position to ditch their investment, still believing that a turnaround is possible and hoping he can return to the Pro Bowl form he displayed in his first four seasons in Houston.

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Plane veers off airport runway in South Korea and crashes, killing at least 23: report

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Plane veers off airport runway in South Korea and crashes, killing at least 23: report

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A Jeju Air flight drove off the runway in South Korea and collided with a fence, leaving at least 23 passengers killed, the Yonhap news agency reported.

The agency attributed the devastating crash to malfunctioning landing gear.

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Jeju Air, a low-cost airline in South Korea, was carrying 175 passengers and six crew members in the Boeing 737-800 when the incident occurred Sunday morning local time at Muan International Airport in Muan County, South Jeolla Province.

RUSSIA DOWNPLAYS SPECULATION OVER DEADLY AZERBAIJAN AIRLINES CRASH AS REPORT LAYS BLAME FOR DOWNED PLANE 

Firefighters carry out extinguishing operations on an aircraft which drove off runaway at Muan International Airport in Muan, South Jeolla Province, South Korea, on Dec. 29. (Yonhap via Reuters)

Firefighters carry out extinguishing operations on an aircraft which drove off runaway at Muan International Airport in Muan

Firefighters carry out extinguishing operations on an aircraft which drove off runaway at Muan International Airport in Muan, South Jeolla Province, South Korea, on Dec. 29. (Yonhap via Reuters)

The plane landed at 9:07 a.m. local time at the airport when the incident happened. 

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The plane was flying back to South Korea from Thailand, the report said.

Photos shared by local media showed smoke billowing out of the plane.

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Plane veers off runway and crashes in S Korea, killing at least 29: Report

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Plane veers off runway and crashes in S Korea, killing at least 29: Report

DEVELOPING STORY,

The crash occurred as the Jeju Air plane was landing at the Muan International Airport in South Korea.

A passenger plane has veered off the runway and crashed at an airport in the South Korean city of Muan, killing at least 29 people, according to the Yonhap news agency.

The accident took place on Sunday as the Jeju Air plane was landing at the Muan International Airport, Yonhap reported.

It was carrying 175 passengers and six flight attendants and was flying back from Thailand.

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Photos shared by local media showed thick clouds of black smoke coming out of the plane.

South Korea’s Acting President Choi Sang-moo has ordered “all-out-efforts for rescue operations” at Muan, according to Yonhap.

Two people have been found alive as the rescue mission is continuing, the agency reported.

More soon…

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