British Retail Consortium (BRC) shop price inflation data for February 2024 came in at +2.5%
- prior +2.9%
- 2.5% is the smallest rise since March 2022
BRC Chief Executive Helen Dickinson said a 0.1% month-on-month fall in food prices was driven by easing input costs for energy and fertiliser and by retailers competing fiercely to keep prices down. "Easing supply chain pressures have begun to feed through to food prices, but significant uncertainties remain as geopolitical tensions rise," Dickinson said.
Info comes via Reuters report.
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Lower inflation will be welcomed by the Bank of England. The next policy meeting is March 21:
