London store prices inflation eased in August as prices rose 2.8 per cent against 3.1 per cent the previous month, according to figures from the LRC-Nielsen Shop Price Index.
However, inflation in the capital remains considerably higher than the rest of the UK, which is running at 0.4 per cent. August was the sixth consecutive month to experience a year-on-year prices rise.
LRC director-general Kevin Hawkins said: “Promotional activity in both food and non-food is helping to slow the rate of shop price inflation in the capital."
Nielsen retailer services senior manager Mike Watkins said: “August is always a difficult month for retailers in the capital, so the stabilisation of prices is a welcome respite after the heavy discounting earlier in the year and before the start of the autumn Sales and event campaigns.”
Food price inflation across the country also fell in August, with prices climbing just 0.4 per cent against the same period a year ago, compared with the 0.6 per cent increase recorded in July. The BRC noted that while food inflation continues to ease, overall, there are no signs of inflation in non-food.