UK shop price inflation falls for the first time since cost-of-living crisis began

Down 0.3% in first week of August

UK shop price inflation has fallen for the first time in almost three years, down 0.3% in the opening week of August.

This was a 0.2% drop versus the previous month, contributing to a three0month average of 0%, according to data from the British Retail Consortium-NielsenIQ shop price index. Shop price annual growth stayed at its lowest rate since October 2021, with the non-food category driving the lion's share of the slowdown as retailers attempted to shift their summer stock. Hopes of September ECB rate cut dashed as eurozone inflation jumps to 2.6% The non-food category remained in deflation at -1.5% in August, down from -0.9% in the previous month. According to Helen Dickinson, chief execut...