AUS
NZ
UK
CA
USA
IND
Highlights
- Shops and superstores in the UK have raised their prices by 5.1% in the year to August, as per BRC and NielsenIQ.
- This significant upswing in prices may be owed to the catastrophic impact of the Russia-Ukraine war.
- It can be expected that these high levels of food inflation may remain for at least six more months.
The UK's cost-of-living crisis has been worsening, hurting both households and businesses. As per the latest data released by the British Retail Consortium (BRC) and NielsenIQ on Wednesday, shops and superstores in the UK have raised their prices by 5.1% in the year to August, up from 4.4% in July. This significant upswing in prices may be owed to the catastrophic impact of the Russia-Ukraine war, which lifted the food costs to record-high levels.
©2022 Kalkine Media®
The prices of various items, such as milk, margarine, and crisps, were raised due to the war pushing the costs of fertiliser, animal feed, vegetable oils, and wheat. A significant quantity of these is supplied to the world by Russia and Ukraine, and the supply cuts have compelled producers to pass on the raised costs to consumers, as per BRC.
According to NielsenIQ's head of retailer and business insight, Mike Watkins, it can be expected that these high levels of food inflation may remain for at least six more months. However, there is still hope that some of the pressures related to input costs in the supply chain may gradually begin to ease over time.
Investors can make the most of their money amid the rising inflation levels by investing in penny stocks, which have the potential of offering great returns, but at a greater risk though. Penny stocks are typically traded at under £1, with a market capitalisation of less than £100 million. Kalkine Media® explores the following penny stocks offering returns of over 100%.
Borders and Southern Petroleum plc (LON:BOR)
The shares of the British oil and gas exploring business, Borders & Southern Petroleum plc, surged by 17.14%, trading at GBX 5.98, at around 11:00 AM (GMT+1) on Wednesday. The AIM constituent holds a market capitalisation of £30.02m at present. As of 31 August, the energy firm has offered its investors whopping returns of 722.05% on a YTD (year-to-date) basis. Meanwhile, its one-year return is also significantly high, at 599.05%. The company's turnover (on the book) stands at £3,060.27.
Egdon Resources plc (LON:EDR)
The shares of the independently functioning oil and gas exploration enterprise, Egdon Resources plc, plummeted by 4.32%, trading at GBX 7.75, at around 11:00 AM (GMT+1) on Wednesday. The AIM constituent holds a market capitalisation of £42.54m at present. As of 31 August, the energy firm has offered its investors enormous returns of 526.93% yearly. Meanwhile, its YTD return is also considerably high, at 426.70%. The company's turnover (on the book) stands at £6,712.19.
Harvest Minerals Ltd (LON: HMI)
The shares of the South America-based maker of organic fertiliser, Harvest Minerals Ltd, tumbled by 5.63%, trading at GBX 10.90, at around 11:06 AM (GMT+1) on Wednesday. The AIM constituent holds a market capitalisation of £21.85m at present. As of 31 August, the chemical industry firm has offered its investors huge returns of 253.21% yearly. Meanwhile, its YTD return is also noticeably high, at 146.05%.
