Shop prices soar as inflation hits highest rate since 2008

Shopper checking the price of a supermarket item

Shop prices have soared across all the metrics with inflation hitting the highest point in 14 years, with consumers facing the biggest cut in income since the 1970s.

According to the latest BRC-NielsenIQ Shop Price Index data, shop price annual inflation accelerated to 3.1% in June, up from 2.8% in May - above both the six and 12 month average increases and its highest point since September 2008. 

Food inflation surged 5.6% in June, up from 4.3% in May - the highest rate since June 2011. 

Non-food inflation decelerated 1.9%, having jumped 2% in May. Despite the fall, non-food inflation remains close to the highest it has been since the shop price index began. 

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.