City snapshot: Tesco sets five year inflation high as annual grocery prices rise 2%

Supermarket price inflation edged up to 2% in the first month of the new year according to the latest Grocer Price Index – but there is wide disparity across the big four, with Tesco price rises swelling the overall figure. Plus another grim day for international stock markets takes its toll on grocery shares and all the rest of the latest news from the City.