Food inflation has slowed to its lowest rate since May 2022 amid easing energy and fertiliser costs and fierce competition among retailers, figures show.
According to the British Retail Consortium food inflation slowed to 5 per cent this month, down from 6.1 per cent in January and the lowest rate since May 2022.
The BRC said food prices were down 0.1 per cent month-on-month in February, noting drops in certain fresh items including meat, fish and fruit.
BRC chief executive Helen Dickinson said: “There was good news for consumers as shop price inflation fell to its lowest rate in nearly two years.
“Easing supply chain pressures have begun to feed through to food prices, but significant uncertainties remain as geopolitical tensions rise.
“Prices of non-food goods will be more susceptible to shipping costs, which have risen due to the re-routing of imports around the Cape of Good Hope.
