Shop price inflation falls to lowest level since November 2021

Non-food retail remains in deflation

Shop price inflation has fallen to its lowest level in 30 months as food inflation continued to slow.

According to the latest figures from the British Retail Consortium and NielsenIQ, shop price annual inflation eased to 0.6% in May, its lowest level since November 2021, down from April's 0.8%. Hotter than expected UK inflation dampens June rate cut hopes Food inflation fell to 3.2% from 3.4%, its thirteenth consecutive decline, while non-food inflation remained in deflation, falling further to -0.8%, down from 0.6% in April, its lowest level since October 2021. Within food inflation, fresh food hit 2%, down from 2.4%, while ambient food inflation remained higher at 4.8% although t...