Weak consumer spending drives shop prices down

Shop prices fell slightly in August, driven by weak consumer spending and “stiff competition” between retailers.

Shop prices fell 0.4% in August, which made for the fastest rate of decline since June 2018, according to the latest BRC-Nielsen Shop Price Index.

Food inflation eased somewhat to 1.6%, down from 1.7% in July, while fresh-food inflation accelerated from 1.2% in July, to 1.4% in August.

Inflation of ambient food prices however slowed, down from 2.4% in July to just 1.8%, which was well below both the 12- and six-month averages

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