British Retail Consortium (BRC) inflation indicator for April 2023 (survey conducted April 1 to 7):
- Overall inflation among BRC members 8.8% y/y, from March's 8.9%
- Food prices at British supermarkets +15.7% y/y, the biggest annual increase in records going back to 2005
- price increases for non-food items slowed due to heavy discounting of clothing, footwear and furniture
BRC chief executive Helen Dickinson:
- "We should start to see food prices come down in the coming months as the cut to wholesale prices and other cost pressures filter through"
GBP update:
