Food prices fall on previous month for first time in more than two years

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Food prices fall on previous month for first time in more than two years
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Consumers who bought dairy, margarine, fish and vegetables – all typically own-brand lines – would have seen lower prices than in August.

Food prices have fallen on the previous month for the first time in more than two years, bringing grocery inflation down to single digits, according to latest figures.

The BRC said “fierce” competition between retailers, helped by easing cost pressures, was behind the fall. Fresh food prices are now 9.6% higher than a year ago, down from 11.6% last month, and its lowest rate since last July.Overall shop price annual inflation slowed further to 6.2%, down from August’s 6.9% and its lowest rate since September last year.

“Retailers will continue to do all they can to support their customers and bring prices down, especially as households face being squeezed by higher energy and mortgage bills.”

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