UK Christmas shoppers to spend record £4.2bn on food and drink
by Sarah Butler from Economics | The Guardian on (#3AG1F)
Friday 22 December on course to be biggest ever shopping day for food and drink as families stock up for Christmas Day
Shoppers in the UK will spend a record 4.2bn on food and drink in the final week before Christmas, shrugging off higher prices caused by the fall in the value of the pound since the EU referendum.
Total spending on festive feasts will be up by 3.6%, with Friday 22 December the busiest day as families prepare for the big day, according to analysts at Nielsen.
Related: Inflation rises to 3.1%, adding to UK cost of living squeeze
Inflation is when prices rise. Deflation is the opposite - price decreases over time - but inflation is far more common.
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