20 July 2024, 16:32
By Furniture News Apr 19, 2023

March sees headline inflation decline

Shop price inflation decreased to 10.1% in March – from 10.4% in February – with inflation for furniture, household equipment and maintenance at 8.0% (from 8.7% in February). 

Responding to the latest CPI inflation figures, which were driven by food inflation at 19.1%, Helen Dickinson, chief executive of the British Retail Consortium (BRC), says: “While households will be pleased to see that inflation may have passed its peak, prices are still high.

"Food prices, especially for fruit, vegetables and sugar, rose as poor harvests in Europe and North Africa reduced availability, and the weak pound made importing more expensive. Meanwhile, discounting helped inflation to ease in other areas such as furniture, and clothing and footwear.

“With food price inflation likely to slow in the coming months as we enter the UK growing season, we expect wider inflation will continue to ease. Nonetheless, prices for consumers will remain high, especially as household bill support is lifted. Retailers remain committed to helping their customers and keeping prices as low as possible, by expanding value ranges and offering discounts for vulnerable groups. We need Government to play its part by minimising the oncoming regulatory burdens, as these will hinder investment and will ultimately contribute to ongoing higher prices for households.”

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