Shop price inflation rate second highest in six years
Shop prices increased during May at the second highest rate in the past six years, driven by non-food inflation and “spiralling” business property tax.
Shop price inflation grew to 0.8% in May up from 0.4% in April. This is above both the 12- and 6-month average price increases of 0.2% and 0.6% respectively according to the BRC-Nielsen shop price index.
Non-food prices increased by 0.2% during the same period compared to April when prices decreased by 0.6%. This is the second month this year to register inflation in contrast to the past six years of deflation.
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