Inflation Eases Amid Retailer Efforts to Cope with Cost of Living Crisis
- Shop price inflation eased to 0.2% in June
- Lowest rate of price growth since October 2021
- Non-food prices fell 1% in June
- Food inflation decelerated to 2.5%
- Fresh food prices slowed further to 1.5%
- Retailers’ efforts helped control shop price rise at 0.2% over the past year
Shop price inflation eased to 0.2% in June, marking the lowest rate since October 2021 and a decrease from 0.6% in May, according to the BRC and NielsenIQ shop price index. Non-food prices fell by 1%, down from 0.8% in the previous month, while food inflation decelerated to 2.5%, down from 3.2% in May. This is the fourteenth consecutive deceleration in the food category and the lowest since December 2021. Fresh food prices slowed further to 1.5%, down from 2.0% in May. Retailers have been investing in operations and supply chains to counter global shocks on input costs, helping to keep shop prices at a 0.2% rise over the past year. The next government should address cost burdens like business rates and apprenticeship levy to maintain low prices and ease living pressures for families.
Factuality Level: 10
Factuality Justification: The article provides accurate information from reliable sources (BRC and NielsenIQ shop price index), presents data in a clear manner, and includes quotes from experts in the field to support its claims. It does not contain any irrelevant or sensational information, nor does it include personal opinions masquerading as facts.
Noise Level: 3
Noise Justification: The article provides relevant information about shop price inflation rates and their impact on consumers, and includes quotes from experts in the field. It also highlights potential solutions for addressing cost burdens on the retail industry. However, it lacks a more in-depth analysis of long-term trends or possibilities and does not delve into the consequences of decisions on those who bear the risks.
Financial Relevance: Yes
Financial Markets Impacted: Retail industry
Financial Rating Justification: The article discusses shop price inflation and its impact on consumers, which is related to the retail industry and can affect consumer spending habits.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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