"Increased fuel prices are already leading to higher inflation, and we can expect a similar impact in the food and non-food supply chains in the months to come."
"However, retailers will look to hold back any price increases as long as possible as alongside fragile consumer confidence, accelerating inflation is likely to negatively affect consumer spending."
"Bigger discounts in clothing, furniture and other sectors are being implemented to attract cautious shoppers, reflecting the current fragile consumer environment."
Shop price inflation in the UK fell to 1% in April, down from 1.2% in March, primarily due to a decline in non-food inflation, which reached -0.1%. Food inflation also decreased from 3.4% to 3.1%, although fresh food prices rose by 3.9%. Retailers are cutting prices to boost demand amid fragile consumer confidence, but warnings persist about potential future price increases due to geopolitical tensions in the Middle East affecting energy and supply chains. Current data indicates a cooling of inflationary pressures, providing temporary relief to consumers.
Read at London Business News | Londonlovesbusiness.com
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