UK shop price inflation slows

 
Elizabeth Fournier
SHOP price inflation slowed sharply in April to hit its lowest level in three-and-a-half years, as under-pressure retailers slashed prices to lure customers into stores.

According to British Retail Consortium (BRC) data out this morning, prices rose by just 0.4 per cent last month compared to a year earlier – a significant fall from March’s 1.4 per cent rise, and the biggest monthly decline in the rate since December 2008.

Falling commodity prices and in-store promotions dragged non-food goods one per cent lower after a 0.2 per cent rise in March, while food prices rose by 2.9 per cent – slower than March’s 3.5 per cent growth.