British Retail Consortium said prices in UK supermarkets and retail chains rose 9.0% y/y in May
- prior was an 8.8% increase in April
- UK shop price inflation hit a new record high since industry stats on it began in 2005
- Food price inflation slowed to 15.4% from 15.7%.
- “While overall shop price inflation rose slightly in May, households will welcome food inflation beginning to fall,” said BRC chief executive Helen Dickinson. “The slow in (food) inflation was largely driven by lower energy and commodity costs starting to filter through to lower prices of some staples including butter, milk, fruit and fish,”
Info via Reuters report on the BRC survey results.