UK Shop Price Inflation Softest Since Late 2021: BRC

UK store prices accrued astatine the slowest gait since precocious 2021 successful June arsenic nutrient prices posted a slower maturation amid deepening deflation successful non-food prices, the British Retail Consortium reported Tuesday.

The store terms scale roseate lone 0.2 percent year-on-year successful June, slower than the 0.6 percent summation successful May.

Shop terms ostentation deed the lowest since October 2021. The three-month mean ostentation was 0.5 percent.

Non-food prices declined 1.0 percent annually successful June, sharper than the 0.8 percent autumn successful the preceding month. At the aforesaid time, nutrient ostentation decelerated to 2.5 percent from 3.2 percent.

Non-food prices posted the biggest alteration since October 2021 and nutrient ostentation was the slowest since December 2021.

BRC Chief Executive Helen Dickinson said retailers invested heavy successful improving their operations and proviso chains to compensate for the interaction of planetary shocks connected input costs during the tallness of the cost-of-living crisis. Efforts of retailers paid off, Dickinson added.

"With uncertainty astir discretionary spending, we expect the aggravated contention crossed the marketplace to support terms increases arsenic debased arsenic imaginable this summer," NielsenIQ Head of Retailer and Business Insight Mike Watkins, said.

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