April 2024 is the 12th consecutive month of slowing food inflation. Credit: TarasM via Shutterstock.com.

UK shop price inflation in April 2024 is at its lowest since December 2021, according to the British Retail Consortium (BRC) and NielsenIQ. 

Shop price annual inflation eased to 0.8% during April, a significant decrease from the 1.3% recorded in the previous month and falling below the three-month average rate of 1.4%.  

Non-food items entered deflation territory at -0.6% in April, which was a significant downturn from the 0.2% inflation seen in March and below the three-month average rate of 0.2%.  

Deflation was particularly evident in categories such as clothing and footwear, where increased promotional activity was noted. 

Food inflation also decelerated to 3.4% in April, down from 3.7% in March, and below the three-month average of 3.9%.  

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This is the 12th consecutive month of slowing food inflation, reaching its lowest point since March 2022.  

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Fresh food inflation is the lowest since November 2021 at 2.4% in April compared with 2.6% in March.  

Ambient food inflation saw a reduction to 4.9% in April, down from 5.2% in the previous month, and below the three-month average of 5.6%, which is the lowest rate since June 2022. 

BRC chief executive Helen Dickinson stated: “One year on from the peak, shop price inflation levels are showing signs of normalising, providing relief to households. Both food and non-food have seen shop inflation rates ease to more manageable levels.  

“In April, non-food prices fell, especially in clothing and footwear, where retailers ramped up promotions to encourage consumer spend. 

“While consumers will welcome the lower shop price inflation, geopolitical tensions and the knock-on impact on commodity prices like oil pose a threat to future price stability. Retailers will continue to do all they can to keep prices down, but government has a role to play with pro-growth policies that allow businesses to invest in the customer offer.”