date:Aug 13, 2014
UK food sales by value dropped the most in at least 5 1/2 years in the three months through July because of price cuts by supermarkets, the British Retail Consortium said.
Food sales at stores open at least 12 months plunged 3.5 per cent from a year earlier, the London-based trade group said today in a report compiled with KPMG LLP. Thats the biggest since the series began in December 2008.
Continued aggressive discounting by Britains supermarket chains may help support consumer spending at a