BUSINESS

Supermarkets see 4 pct drop as dairy sales shrink

DIMITRA MANIFAVA

TAGS: Economy

Supermarkets suffered a 4 percent decline in turnover over the first quarter of the year on an annual basis, according to IRI researchers, reflecting the general decline in consumption due to the prolonged economic uncertainty.

More worryingly, the biggest drop in both value and sales volume was observed in one of the most basic food categories, that of dairy products, while frozen food is the only category out of all 11 to have posted an increase.

IRI data also indicate a small recovery in private-label products following two years of decline.

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