UK Shop Price Inflation Slows: BRC
UK shop price inflation eased in February largely due to the fall in non-food prices, the British Retail Consortium said Tuesday.
Shop price inflation softened to 1.1 percent in February from 1.5 percent in the previous month. Prices were expected to climb 1.4 percent.
Non-Food prices fell 0.1 percent in February, in contrast to the 0.3 percent increase in January. Food inflation climbed 3.5 percent compared to the 3.9 percent increase in January.
BRC Chief Executive Helen Dickinson said, “Households got some welcome relief in February as shop price inflation eased.”
She noted that fierce competition between retailers kept price rises in check, with promotions across health, beauty and fashion. Moreover, falling global food costs also fed through, pushing food inflation down.
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