Shop price inflation eases in relief for cash-strapped Brits

cityam

Mar 03

This will bring welcome respite for the ever-growing price of Brits’ weekly shop Shop price inflation slowed in February, as retailers introduced a raft of promotions to ease the cash burden on ...

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Fierce competition between retailers kept price rises in check, with promotions across health, beauty and fashion.”","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2065732104.USD":"ALLSPRING (LUX) WF GLOBAL SMALL CAP EQUITY \"I\" (USD) ACC","BRC":"布雷迪","BK4087":"商业印刷"},"translate_title":"商店价格通胀缓解，让现金短缺的英国人松了一口气","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BRC":1},"content_text":"This will bring welcome respite for the ever-growing price of Brits’ weekly shop Shop price inflation slowed in February, as retailers introduced a raft of promotions to ease the cash burden on struggling shoppers. The price of goods in UK shops grew at a rate of 1.1 per cent in February year on year, down from the 1.5 per cent rate of inflation seen in January, according to figures released by the British Retail Consortium (BRC).While this will bring welcome respite for the ever-growing price of Brits’ weekly shops, retailers warn they are battling with high employment costs, driven by tax rises and Labour’s employment reforms.Helen Dickinson, chief executive of the BRC, said: “Households got some welcome relief in February as shop price inflation eased. Fierce competition between retailers kept price rises in check, with promotions across health, beauty and fashion.”\n\nShop prices stayed flat from January, with a month-on-month inflation rate of 0 in February, though prices had increased marginally by 0.4 per cent from December to January. \n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWhile food prices continue to inflate, the rate fell from 3.9 per cent year on year in January to 3.5 per cent last month. The cost of fresh food is rising faster though inflation in this category slowed too, down from a year-on-year inflation rate of 4.4 per cent in January to 4.3 per cent in February.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}