Inflation & Prices
UK Shop Price Inflation Cools for First Time in 2023, BRC Says
- Discounts at clothing retailers help pull down inflation
- Food, ready meals and coffee all are still rising sharply
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Heavy discounting on clothing and furniture pulled down UK shop price growth for the first time in 2023, a sign that households may be past the worst of an inflation shock.
Shop price inflation slowed to 8.8% in April from a record high of 8.9% the previous month, according to the British Retail Consortium and NielsenIQ. However, rises in grocery bills continued to accelerate, hitting a fresh all-time high of 15.7% as ready meals, coffee and fresh produce became more expensive.