Shop prices were 1.3% higher than a year ago in March, slowing from February’s 2.5% and well below the three-month average of 2.2%.
Shop price inflation eased to its lowest rate since December 2021 driven by falling food costs and competition between retailers, figures show.
Food prices overall were 3.7% higher than a year ago, down from 5% in February, the 10th consecutive month of slowing inflation for the category and its lowest since April 2022.Inflation on products other than food fell to 0.2% in March, down from 1.3% in February, and its lowest since January 2022.
“In non-food, prices of electricals, clothing and footwear fell as retailers increased promotions to entice consumer spending.”
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