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Grocery inflation drops to 12.7% as M&S releases a strong trading update

M&S food results

Two interesting items in the grocery space today, firstly Kantar’s latest grocery inflation figures, revealing a drop to 12.7%, the second sharpest fall since 2008 and having peaked at 17.5% in March.

Secondly, Marks and Spencer has announced a strong trading update for its food business, showing like-for-like sales are up over 11% and pointing to its investment in the ‘remarksable’ value range.

M&S also highlighted the importance of its store network: “Overall, the group operating margin has continued to be robust, driven by strong store performance and enhanced by our store rotation and renewal programme.”

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