Shop price inflation down in August - BRC
Wednesday, 07 September 2011 01:58
Shop price inflation slowed in August, according to the latest data from the British Retail Consortium (BRC).
In its report, the BRC said it fell to 2.7 per cent from 2.8 per cent in July, a percentage which is significantly lower than the official measure of inflation at 4.4 per cent.
Food inflation slowed to five per cent from 5.2 per cent over the month, while the number for non-food increased from 1.3 per cent to 1.4 per cent.
Good harvest of fruit and vegetables have contributed to the fall in food price inflation, the organisation stated, while reductions in the costs of global commodities such as wheat have also been a factor.
"This is a modest piece of good news for hard-pressed households. For the second month in a row a fall in overall shop price inflation can be put down to food inflation slowing," BRC director general Stephen Robertson commented.
"Competition between retailers continues to protect consumers from the full impact of food inflation. Nearly 40 per cent of all groceries going through the tills are on some sort of promotion or special offer, meaning shoppers can reduce the impact of price rises on their own budgets by picking the deals that work best for them," he added.
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