Shop price inflation rate second highest in six years

man shopping in supermarket with phone

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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