Food Inflation Hits A New Low

Great news for shoopers from the British Retail Consortium's Shop Price Index tells us that inflation has fallen to 1.7% from 2.3% in January and food prices have hit a new low. Food inflation has plummeted from 2.9% to 1.3% the lowest for three years. Non-food inflation was unchanged at 1.9%. As reported on previous occasions the effects of VAT and shopper restraint may still be having an effect but the Director General of the BRC said that food prices should remain stable.