According to the shop pricing index from retail behavior experts NielsenIQ and the trade association for UK retailers, the British Retail Consortium (BRC), commodities like food and clothing are getting more expensive but still significantly less than they were a few years ago.
According to the April shop pricing index, prices of non-food items decreased by 0.6% from a year ago as a result of increased sales of clothing and shoes. In March of the previous month, prices had increased by 0.2% from February.
Food inflation has decreased to 3.4%, the lowest level since March 2022 and the 12th consecutive decline. It reached a peak of 15.7% in April of 2023.
The BRC claims that lower input costs, such as lower energy bills, and retailer competition for customers also contributed to price reductions for fresh food items like butter, seafood, and fruit.
