In February, shop price inflation held steady at -0.7% year on year, despite food prices increasing to 2.1%. Non-food inflation dipped to -2.1%, impacting retail pricing strategies. As January Sales promotions ended, non-food items, particularly electricals and furniture, saw price hikes. Helen Dickinson, BRC Chief Executive, warned of potential future inflation due to geopolitical tensions and rising business costs. She emphasized the government’s role in supporting retailers, suggesting measures to alleviate the pressure of new costs to prevent higher consumer prices.
While shop prices remained in deflation in February, prices on the month saw the biggest increase in the last year.
If Government wants to keep inflation at bay, enable retailers to focus on growth, and help households, it must mitigate the swathe of costs facing the industry.
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