August 26, 2024 23:01 GMT
UK DATA: BRC-NielsenIQ: Shop Price Inflation Remains Lowest Since Oct'21
UK DATA
BRC-NielsenIQ Shop Prices fell 0.3% Y/Y in August for the first year-on-year decline since October 2021, having increased just 0.2% in July. On a monthly basis, Shop Prices were flat at 0% M/M (vs -0.1% prior).
- The Non-Food component remained in deflation for the fifth consecutive month at -1.5% Y/Y after -0.9% Y/Y in July, whilst food price inflation saw a sixteenth consecutive monthly moderation to 2.0% Y/Y from 2.3% Y/Y.
- On a monthly basis, the food component rose 0.2% (vs 0.1% prior) - albeit somewhat softer than pre-pandemic readings for August - whilst the non-food component fell 0.1% (vs -0.2% prior).
- The faster pace of deflation in non-food prices is eye-catching but note the increased divergence between BRC Nonfood prices and the ONS NEIG series in the chart below.
- Survey period: 1 to 7 August 2024.
![](https://media.marketnews.com/Screenshot_2024_08_23_144415_eeab75775b.png)
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