Shop price inflation creeps up
UK shop price inflation rose by 2.5% in April from 2.4% in March according to figures released by the British Retail Consortium (BRC). Food prices increased to 4.7% in April from 4% in March. Non-food inflation slowed to 1.2% in April from 1.5% in March.
Stephen Robertson, British Retail Consortium director general, explained: "Overall shop price inflation edged up slightly because rising food inflation outweighed slowing non-food inflation.”
He continued: "But the upward pressures on food prices, which eased in March, bit back in April. The cost of world commodities, including sugar and wheat, rose even more quickly, inevitably working through to some shop prices.”
However, BRC said that shoppers were continuing to benefit from large numbers of discounted offers with 40% of groceries being bought on promotion.
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