British Retail Consortium (BRC) data on shop price inflation.
Came in at 2.9% y/y in January
- from 4.3% in December
- NielsenIQ, which provides data for the BRC, said lower wholesale costs were allowing supermarkets to cut the price of some goods. "However, consumer demand remains fragile as most households are yet to feel better off after nearly 2 years of inflation"
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Encouraging news for consumers and the Bank of England. Bring on the rate cuts!
