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Relief for shoppers: Figures published today show grocery costs fell by 0.3% between February and March
Food prices fell last month in a boost for households as supermarkets stepped up their promotions to attract customers.
Figures published today show the cost of groceries fell by 0.3 per cent between February and March as retailers tempted shoppers with Mother’s Day and Easter offers.
Prices fell faster than the previous month’s 0.1 percent decline amid a price war among major grocers.
And annual food price inflation slowed from 5 percent to 3.7 percent, the lowest level in two years, according to analysis by industry group British Retail Consortium (BRC) and data firm Nielsen.
Official figures show food price inflation peaked at 19.1 percent in March last year – the fastest pace since 1977 – putting pressure on household budgets.
Overall retail price inflation – including non-food items such as electricity and clothing – was at the lowest level since December 2021.
BRC boss Helen Dickinson said: ‘Although Easter treats were more expensive than in previous years due to high global cocoa and sugar prices, retailers provided great deals.’