Retail price inflation accelerates in April

Annual shop price inflation jumped to 2.7 per cent last month, up from 2.1 per cent in March.

According to the latest figures from the British Retail Consortium (BRC), food inflation also increased, rising from 3.3 per cent in March to 3.5 per cent in April – the highest rate since March 2013.

Non-food inflation was up from 1.5 per cent in March to 2.2 per cent last month.

Fresh food was the only category that saw inflation decrease from 3.5 per cent in March to 3.4 per cent in April. But this was still the second highest inflation rate in nine years.

Helen Dickinson, chief executive of the BRC, said that the impact of rising energy prices and the conflict in Ukraine have continued to feed through into April’s retail prices, adding that non-food products – particularly furniture, electricals, and books – have seen the highest rate of inflation since records began.

She said that this has been exacerbated by disruption at the world’s largest seaport after Shanghai’s recent lockdown.

“Global food prices have reached record highs, seeing a 13 per cent rise on last month alone, and even higher for cooking oils and cereals,” warned the chief exec. “These costs filter through the supply chain, they will place further upward pressure on UK food prices in the coming months.”

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