Motorists urged not to panic buy fuel; supermarket prices ‘to rise within weeks’ – business live

Rolling coverage of the latest economic and financial news

The CBI is urging the government to add HGV drivers to the shortage occupation list, after reporting a slowdown in retail sales and order growth, and worryingly low stockpiles of goods.

Retail sales were poor for the time of year this month for the first time since March 2021 (just before Covid-19 restrictions were relaxed), according to the latest CBI monthly Distributive Trades Survey.

Stock levels in relation to expected sales fell to a survey record low for the sixth consecutive month for the distribution sector as a whole (question first asked on monthly basis in Jan 1985), with a further deterioration expected next month. #DTS pic.twitter.com/x8j7tzgAEH

“Demand cooled for retailers in the year to September after running red hot over the summer, pushing sales below seasonal norms for the first time since March. But volumes are expected to return to more typical levels for the time of year next month.

“Low stock adequacy remains a concern across the distribution sector. Respondents to our survey have told us that they do not expect the transport and production issues that are causing these shortages to ease significantly until at least next year and, in some cases, beyond.

One in six people couldn’t buy some essential food items earlier this month, as the UK’s supply chain problems worsened.

A survey by the Office for National Statistics found that 61% of people said that everything they needed had been available to buy in the last two weeks.

18% of adults reported being unable to buy essential food items and 25% reported being unable to buy other non-essential food items due to availability in the past two weeks.

Meanwhile 61% of adults reported everything they needed had been available https://t.co/F3Jdn9cvru

The most commonly reported were that there was less variety in the shops than usual (40%), that items they needed were not available but they could find a replacement (20%), that items they needed were not available and they could not find a replacement (20%), or that they had to go to more shops than usual to get what they needed (13%).

The most commonly reported were that they had to wait longer for their prescriptions (13%), that items they needed were not available but they could find a replacement (5%), that items needed were not available and they could not find a replacement (4%), or that they had to go to more pharmacies than usual to find what they needed (4%).

When food shopping, 58% of adults reported experiencing some differences compared to usual.

The most commonly reported difference was that there was less variety in the shops than usual (40%) https://t.co/NxRXVWOBuJ

Continue reading…

Read full original article »