Belfast Telegraph

Increases in price of food on the wane, figures show

By Josie Clarke

A substantial slowdown in food price rises has provided welcome respite for consumers as the impact of the pound's depreciation one year on begins to fade, figures have revealed.

Shop price deflation accelerated to 1% in March - its deepest rate since February 2017 - from 0.8% in February, driven by the lowest rate of food inflation for a year, according to the BRC-Nielsen Shop Price Index.

Food inflation took a significant tumble from 1.6% in February to 0.4% last month - also the lowest rate since February 2017. Prices of fresh food increased by 0.3% in March, a slowdown from the 0.9% rise recorded in February, the lowest rate of inflation since March last year.

Meanwhile, ambient food prices increased by 0.6% in March after rising by 2.5% just the month before.

Deflation in non-food prices eased in March to a rate of 1.9% compared with February's 2.2%.

British Retail Consortium chief executive Helen Dickinson said retailers were passing on the impact of the pound's depreciation fizzling out.

Belfast Telegraph

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.