Boost for shoppers as food prices tumble

A SUBSTANTIAL slowdown in food price rises has provided welcome respite for consumers as the impact of the pound’s depreciation one year on begins to fade, figures show.

Shop price deflation accelerated to 1 per cent in March – its deepest rate since February 2017 – from 0.8% in February, driven by the lowest rate of food inflation for a year, according to the Brc-nielsen Shop Price Index.

Food inflation took a significant tumble from 1.6% in February to 0.4% last month, also the lowest rate since February 2017.

Prices of fresh food increased by 0.3% in March, a slowdown from the 0.9% rise recorded in February, the lowest rate of inflation since March last year.

British Retail Consortium chief executive Helen Dickinson said: “As the impact of the pound’s depreciation one year on are beginning to fizzle out, retailers are passing the positive impact through to the shop floor.

“So, some welcome respite for consumers.”