Shop prices continued to fall in February, reaching the lowest rate of deflation since May 2020.
Shop prices fell by 2.4% in February, lower than January’s decrease of 2.2% as the impact of lockdown on consumer spending subsisted.
This was below the 12- and six-month average price decreases of 1.7% and 1.8% respectively, according to the BRC-Nielsen Shop Price Index.
The rate of deflation was exacerbated by non-food prices, which fell 3.9% in February compared with a 3.6% decline in January, as retailers tried to tempt shoppers to buy.
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