- Overall shop price inflation in the UK eased in April, to 1 per cent down from 1.2 per cent in March, according to data from the British Retail Consortium and NIQ.
- The slowdown was primarily driven by widespread discounting from retailers across various sectors, including clothing, furniture, DIY goods, and Easter food items.
- Non-food items saw a slight deflation, becoming 0.1 per cent cheaper year-on-year, while food inflation dropped to 3.1 per cent, though fresh food prices remain 3.9 per cent higher.
- Experts warn that the full impact of the Middle East conflict, particularly rising fuel prices, is yet to be felt and is expected to lead to higher inflation in supply chains.
- Despite retailers' efforts to absorb costs due to weak consumer confidence, the Resolution Foundation estimates the average household will be £480 worse off this year due to increased energy expenses.
IN FULL
