UK shop price inflation slows to 10-month low

Driven by falling food inflation

Shop price inflation in August rose at its slowest pace since October 2022, according to the British Retail Consortium (BRC), in welcome news for consumers and the Bank of England’s measures to curb price rises.

Annual shop price inflation cooled to 6.9% in August, the BRC said, weakening from 7.6% in July. This was driven by falling food inflation, which fell to 11.5% from July's 13.4%, particularly for fresh produce such as meat, potatoes and some cooking oils. UK retail sales dampened by wet weather These figures would have been lower still had the government not increased alcohol duties earlier this month, the BRC highlighted. Non-food inflation held at 4.7%, with toiletries and cosmetics seeing price growth ease as many key components became cheaper, while inflation for clothing an...