UK shop price inflation eases in June
By Michele Maatouk
Date: Tuesday 27 Jun 2023
(Sharecast News) - UK shop price inflation eased in June, according to figures released on Tuesday by the British Retail Consortium and NielsenIQ.
Shop price inflation edged down to 8.4% from 9.0% in May, with food inflation easing to 14.6% from 15.4%, coming in below the three-month average of 15.2% and marking the second consecutive deceleration in that category.
Fresh Food inflation also slowed further in June, to 15.7%, from 17.2% in May.
Ambient food inflation eased to 13.0% from 13.1%, and non-food inflation ticked down to 5.4% from 5.8%.
BRC chief executive Helen Dickinson said: "Households up and down the country will welcome the easing of shop price inflation in June. Food inflation slowed for the second consecutive month, particularly for fresh products, as retailers cut the price of many staples including milk, cheese and eggs. Clothing and electrical goods also saw falling prices, helping customers to pick up a bargain ahead of the summer holidays.
"If the current situation continues, food inflation should drop to single digits later this year. However, it is imperative that government does not hamper this progress by introducing costly new policies."
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