The British Retail Consortium (BRC) reported overall food inflation rose 11.6% in August, down from 14.3% in July, but annual growth in average total pay only grew by 8.2% from April to June, according to the latest data available from the Office for National Statistics (ONS).
The British Retail Consortium reported overall food inflation rose 11.6% in August, down from 14.3% in July.
But annual growth in average total pay only grew by 8.2% from April to June, according to the latest data available from the Office for National Statistics .Inflation for ambient foods - items stored at room temperature - fell from 12.3% in July to 11.3% in August. Meanwhile the BRC said price rises in shops have slowed to their lowest rates in October last year but keep going up significantly.While retail inflation has dropped it does not mean items are getting cheaper, just that prices increased more slowly between September 2022 and August 2023 than they did between August 2022 and July 2023.
The BRC showed the main reason retail inflation dropped was because fresh food prices rose less rapidly.
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