Non-Food Prices Plummet, Food Inflation Slows

  • Shop prices fell by 0.8% in March according to BRC-Nielsen Shop Price Index
  • Non-food prices dropped by 1.9%, the highest rate since May 2018
  • Food inflation eased to 1.1%, lowest since March 2018
  • Ambient food inflation slowed to 2% from 3% in February
  • Higher costs on seasonal farm labour could impact fresh produce prices
  • Coronavirus crisis may affect consumer spending patterns and job security

The latest BRC-Nielsen Shop Price Index reveals a decline in shop prices by 0.8% in March, with non-food prices falling by 1.9%. Food inflation eased to 1.1%, the lowest since March 2018. Ambient food inflation slowed to 2%, down from 3% in February. The British Retail Consortium’s Helen Dickinson warns that the coronavirus crisis could impact fresh produce prices due to higher seasonal farm labour costs. Mike Watkins of Nielsen notes weak demand for goods and services, urging government action to support jobs and businesses.

Factuality Level: 10
Factuality Justification: The article provides accurate information from reliable sources (BRC-Nielsen Shop Price Index), presents data clearly, and includes expert opinions on potential future impacts of the coronavirus crisis.
Noise Level: 3
Noise Justification: The article provides relevant information about the latest BRC-Nielsen Shop Price Index and its impact on shop prices, non-food prices, and food inflation. It also includes expert opinions from Helen Dickinson and Mike Watkins. However, it could benefit from more in-depth analysis or discussion of potential long-term trends or consequences of the reported data.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses changes in shop prices and inflation rates for various categories of goods, which can impact consumer spending and potentially affect companies’ sales and profits.
Financial Rating Justification: The article talks about changes in shop prices and inflation rates, which are financial indicators that can influence consumer behavior and company performance. It also mentions the potential impact of the coronavirus crisis on food prices and job losses, which could have broader economic consequences.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk