Food price inflation nears two-year low


Food prices dipped 0.1% month-on-month in February, the BRC said, noting drops in certain fresh food items.

Non-food inflation remained unchanged at 1.3% in February, with the price of goods such as furniture, electronics and health and beauty products rising but clothing continuing to fall with retailers keeping promotions running.

“There was good news for consumers as shop price inflation fell to its lowest rate in nearly two years,” Helen Dickinson, chief executive of the BRC, said.

“Easing supply chain pressures have begun to feed through to food prices, but significant uncertainties remain as geopolitical tensions rise.

“Prices of non-food goods will be more susceptible to shipping costs, which have risen due to the re-routing of imports around the Cape of Good Hope.”

Source link


Please enter your comment!
Please enter your name here