Shop Price Index Down

The British Retail Consortium's Shop Price Index year-on-year index fell from 2.0% in March to 1.4% in April. It is the first time it has fallen since December 2008 when there was a cut in VAT. The month-to-month index fell by 0.5%. Non-food goods are cheaper than a month ago because of discounting. Food is also cheaper this month signalling a possible end to the worst of food price inflation. Retailers’ attempts to keep shopping bills down are being prevented by rising farm gate prices for meat and vegetables.