UK shop inflation doesn’t usually make headlines but today’s release was further evidence that inflation is on a downward trend. The British Retail Consortium (BRC) Shop Price index rose 2.5% y/y in February, down from 2.9% in January. This marked the ninth straight monthly decline and was the lowest level since March 2022. The BRC also reported that food inflation dropped sharply in January, from 6.1% to 5.1%.
UK shop inflation falls to 2.5% The British pound is drifting on Tuesday. In the European session, GBP/USD is trading at 1.2683, down 0.03%. Shop price, f
The British Independent Retailers Association has said recent figures from the BRC-Nielsen Shop Price Index will prompt more consumer confidence. Speaking about the report, BIRA, which works with over 6,000 independent businesses of all sizes across the UK, said the figures which have shown their lowest levels since May 2022, would help boost more confidence
The rate at which food prices increase has fallen to its lowest level since last August, in the latest signal that cost of living pressures are easing.
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