UK Shop prices rising in May, despite the growing food inflation of the fourth consecutive month, show new data.
This is a significant increase in overall deflation Food pricesNow 2.8 percent higher than last year, faster than an increase of 2.6 percent in April. The price hike of bulk meat is a major driver, which affects the cost steak especially.
Fresh food inflation is also rapidly climbing, 2.4 percent higher prices than in May 2023, a significant leap from an increase of 1.8 percent of April.
While food prices rose, non-food items continued their deflation tendency, although slow. Prices were 1.5 percent lower than a year ago compared to a decline of 1.4 percent in April.
This recession is attributed to retailers, which withdraw publicity proposals in categories such as fashion and furniture. In contrast, electrical goods saw the stator price drops as retailers attempted to encourage sales before potential American tariff effects. Grow
The 3.6 percent of the 46 percent of an ambient food inflation of April increased to 3.3 percent.
BRC Chief Executive Officer Helen dikinson Said: “While the overall shop prices remain unchanged in May, food inflation increased in the fourth consecutive month.
“Fresh foods were the main driver, and the red meat eaters may have seen that their stake may have become slightly more expensive as the wholesale beef prices increased.
“Now the increased April’s enlarged employer with retailers is absorbing the cost of £ 5 billion from national insurance contribution and national living wages, no wonder that inflation is once again leading its head.
“Later this year, retailers face a cost of another £ 2 billion from new packaging, and the implementation of the Employment Rights Bill leads to the cost of employment on the horizon. Government It should be ensured that the employment rights bill is fit for purpose, supporting the rights of workers while protecting jobs and investment for development.
“If the statutory cost continues to increase for retailers, Houses Further increase in prices will be handled by yourself for more difficult times. ,
Retailer at Nielseniq and head of commercial insights Mike Watkins said: “While shopkeepers are watching savings in checkouts as retailers have increased publicity activity, raising prices for consumer expenses with growing domestic bills are still an additional challenge.
“If the consumer confidence remains weak, then the retailers may have to work hard to encourage shopkeepers to spend the summer in summer.”
