UK shop price inflation rises at slowest pace in almost two years

Seventh consecutive monthly decline

Shop price inflation in the UK fell in January to its lowest rate since May 2022 as retailers heavily discounted goods to attract customers, according to the British Retail Consortium-NielsenIQ Shop Price index.

In the seventh consecutive monthly decline, annual shop price inflation eased to 2.9%, down from 4.3% in December and below the three-month average of 3.9%.  The inflation rate for non-food products dropped to 1.3% in January, a decline from the 3.1% recorded in December. This marked the lowest rate since February 2022. UK inflation unexpectedly rises to 4% in December Food inflation also slowed, to 6.1% in January from December's 6.7%, representing the ninth consecutive fall and the lowest rate since June 2022. Fresh food inflation decelerated even more, dropping to 4.9% in Januar...