"Overall shop inflation fell slightly to 1.1 per cent from January's 1.5 per cent, in line with the three-month average of 1.1 per cent, as fierce competition between retailers kept price rises in check and customers benefited from promotions across health, beauty and fashion, according to the British Retail Consortium (BRC) and NIQ."
"Overall food inflation fell slightly to 3.5 per cent from 3.9 per cent in January, while fresh food prices remained 4.3 per cent higher than last February, a slight drop from January's 4.4 per cent and above the three-month average of 4.2 per cent."
"However falling global costs pushed ambient food inflation down to 2.3 per cent its lowest level in four years and a significant fall from January's 3.1 per cent."
UK retail price inflation declined in February to 1.1% from January's 1.5%, driven by intense retailer competition and promotional activity in health, beauty, and fashion sectors. Food inflation decreased slightly to 3.5% from 3.9%, but fresh food prices remained elevated at 4.3% above February 2023 levels. Non-food product prices fell 0.1% year-on-year, marking a significant reversal from January's 0.3% growth. Ambient food inflation reached its lowest point in four years at 2.3%, down from 3.1% in January, reflecting declining global commodity costs. The British Retail Consortium and NIQ data indicate moderating price pressures across most categories, though consumers continue facing elevated food costs.
Read at www.independent.co.uk
Unable to calculate read time
Collection
[
|
...
]