Shop price inflation decreased to 1.0% YoY in April, against growth of 1.2% in March, states the latest Shop Price Monitor from BRC-NIQ, as heavy discounting eased shop prices.
Non-food inflation decreased to -0.1% YoY in April, against growth of 0.1% in March.
Helen Dickinson, chief executive of the BRC, says: “Bigger discounts in clothing, furniture and DIY goods helped pull down shop price inflation in April.
"With weakening consumer confidence, retailers competed harder on price to stimulate more spring spending. Food price inflation also slowed as retailers offered discounts on Easter items such as chocolate. While we’re yet to see the full force of the Middle East conflict feeding into consumer prices, it will not be long before it begins to."
Mike Watkins, head of retailer and business insight, NIQ, adds: “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.”
