"Shop price inflation edged up in March, despite food inflation easing as dairy prices fell with lower wholesale milk costs. Retailers offered promotions on alcohol, TVs and sound systems in the run up to final Six Nations weekend, as well as on clothing & footwear to entice consumers to spend."
"Higher costs resulting from the conflict in the Middle East are starting to feed into supply chains. While retailers will work with their suppliers to mitigate the impact on prices as far as possible, inflation will rise, although there are no indications it will reach the peaks of the last spike in April 2023."
In March, shop price inflation increased to 1.2% year-on-year, up from 1.1% in February, but below the three-month average of 1.3%. Non-food inflation rose to 0.1%, while food inflation decreased to 3.4%. Fresh food inflation increased to 4.4%, and ambient food inflation decreased to 2.0%. Overall, March indicates a slight increase in headline inflation, but food and non-food prices remain stable. Retailers are facing higher costs due to external factors, and government actions may impact future price trends.
Read at London Business News | Londonlovesbusiness.com
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