23 July 2024, 22:54
By Furniture News Apr 30, 2024

Inflation brought to a heel, says BRC-NielsenIQ

Shop price annual inflation eased to 0.8% in April – its lowest since December 2021, and down from 1.3% in March – according to the latest Shop Price Index by BRC-NielsenIQ.

Non-food entered deflation stood at -0.6% in April, down from 0.2% in the preceding month, and at its lowest level since October 2021.

CEO Helen Dickinson says: “One year on from the peak, shop price inflation levels are showing signs of normalising, providing relief to households. Both food and non-food have seen shop inflation rates ease to more manageable levels.

"In April, non-food prices fell, especially in clothing and footwear, where retailers ramped up promotions to encourage consumer spend. Food inflation slowed for the 12th consecutive month, as fresh products such as butter, fish and fruits, continued to fall in price due to easing input costs and intense competition between grocers.”

“While consumers will welcome the lower shop price inflation, geopolitical tensions and the knock-on impact on commodity prices, like oil, pose a threat to future price stability. Retailers will continue to do all they can to keep prices down, but Government has a role to play with pro-growth policies that allow businesses to invest in the customer offer.”

© 2013 - 2024 Gearing Media Group Ltd. All Rights Reserved.