3 FTSE-listed stocks to watch as UK grocery bills hit the roof

Highlights

• According to Kantar, the overall grocery prices were up 16% year-on-year basis in January.
• The latest findings are expected to add an extra £788 to their annual shopping bills.

The increasing cost of living crisis is about to worsen in Britain as the common grocery items are about to get expensive. This comes amidst International Monetary Fund (IMF) downgrading Britain’s GDP forecast to 0.6% for 2023. The revised outlook is expected to leave the UK behind other G7 nations.

Now, according to London-based data analytics and brand consulting company Kantar, Britain’s shoppers are witnessing the sharpest increase in their grocery bills on record. It was presumed that the food inflation had passed its peak in October. According to Kantar, the overall grocery prices were up 16% year-on-year basis in January.

The grocery bills had previously peaked in October last year before inflation appeared to be easing out in November and December. According to Kantar, daily consumable food items such as milk, eggs, etc., were among the few that witnessed the maximum price rise. The latest findings are expected to add an extra £788 to their annual shopping bills.

Amidst this, Kalkine Media® explores three FTSE-listed dividend stocks to explore.

Aviva plc (LON: AV.)

The shares of the international life insurance business, Aviva plc, on 31 January was witnessing a downtrend and were down by -0.74% at GBX 453.50 at 11:24 AM (GMT). The FTSE-100 constituent, Aviva plc, boasted of a market cap of £12,829.38 million with a current dividend yield offering of 6.54% yearly. AV. share has given its shareholders returns of 5.74% and -8.76% on a YTD and a one-year basis, respectively, as of Tuesday.

Rio Tinto plc (LON: RIO)

Rio Tinto Plc is the producer of iron ore, copper, diamonds, gold, etc., boasted a market cap of £78,953.19 million. The Anglo-Australian mining corporation boasted a dividend yield of 6.70%. Rio Tinto plc shares on Tuesday were trading at GBX 6,211 at 11:32 AM (GMT) and were down by -1.69%. Rio Tinto plc has given its investors positive returns on YTD and yearly at 7.23% and 15.47%, respectively.

Imperial Brands plc (LON: IMB)

The UK-based tobacco-making giant Imperial Brands plc’s current dividend yield offering stands at 6.97% on a yearly basis. IMB’s share witnessed green as it was up by 0.15% at GBX 2025.00 at 11:41 AM (GMT) on Friday. The FTSE-100 constituent enjoyed a market cap of £ 18,847.09 million, offering YTD and one-year returns of -2.31% and 14.67%, respectively.

Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.