In the UK, shop price inflation has seen a significant decrease, reaching its lowest level in over two years as of March, specifically since December 2021. This decline is attributed to falling food costs and intensified competition among retailers. The British Retail Consortium (BRC) highlighted that shop prices were only 1.3% higher in March compared to a year ago, a slowdown from February's 2.5% and below the three-month average of 2.2%. This reduction in inflation rates is seen as a positive sign for consumers, indicating a relief from the inflation squeeze that has been affecting the country. Additionally, non-food inflation also saw a decrease, dropping to 0.2% in March from February's 1.3%, with food inflation reducing almost by a quarter to 3.7% from February's 5.0%.
🇬🇧 Shop price inflation hits two-year low driven by falling food costs https://t.co/HKAFyEA8mG
🇬🇧 Inflation in UK shops drops to lowest level in two years | Inflation https://t.co/FBj4g2huxr
Great news from @the_brc! In March: ⬇️ 📉 Non-food inflation DOWN to 0.2% (Feb 1.3%) ⬇️ 📉 Annual shop price inflation almost HALVED to 1.3% (Feb 2.5%) ⬇️ 📉 Food inflation down almost ONE QUARTER to 3.7% (Feb 5.0%) ✅ Many price falls in essentials https://t.co/N1ENv9aSrz
Falling food costs helped shop price inflation ease to its lowest level in more than two years. https://t.co/zuQImND732
The annual rate of shop price inflation almost halved in March, according to new industry figures Read more🔗 https://t.co/bmMPWUZKlx
Prices in British shops rose at the slowest pace in more than two years in March, the British Retail Consortium said, adding to signs that the country's inflation squeeze is now fading fast https://t.co/DmR0bov8ZW
Food prices rise at slowest rate in more than two years https://t.co/fMzEnYkqjH
Shop price inflation eased to its lowest rate since December 2021 driven by falling food costs and competition between retailers, figures show. Shop prices were 1.3% higher than a year ago in March, slowing from February’s 2.5% and well below the three-month average of 2.2%, https://t.co/IGU82WqEVw
Falling food costs has led to shop price inflation falling to its lowest rate since December 2021 as retailers increase competition for customers, new figures show https://t.co/VGdfkPV7mJ
UK shop prices rise at slowest pace since December 2021 https://t.co/adGmQOcBsU https://t.co/mN3WmkznL6
⚠️ UK SHOP PRICES RISE AT SLOWEST PACE SINCE DECEMBER 2021 Full Story → https://t.co/9PO7GGKUiy Prices in British shops rose at the slowest pace in more than two years in March, the British Retail Consortium (BRC) said on Tuesday, adding to signs that the country's inflation… https://t.co/woiE7TZ4Vm
Shop prices have risen at their lowest rate for more than 2 years according to figures just out. It is due to changing food costs and competition between retailers. @NityaGRajan reports. https://t.co/tK3bt4V96P
Inflation in UK shops drops to lowest level in two years https://t.co/zI0xaZ0csV
Inflation in UK stores dropped to its lowest level in more than two years as supermarkets compete to lure shoppers with low prices https://t.co/umOAoJEFt1