Families have been dealt another blow as food prices surged again this month, latest figures show. This is despite shop price inflation easing slightly after that hit record highs last month.
Food prices soared by 15.7 per cent - the highest on record - in April, according to the latest BRC-NielsenIQ shop price index. This increased from 15 per cent in March.
Fresh food prices increased by a record 17.8 per cent year-on-year for the month while the price of tinned goods and other store-cupboard items increased 12.9 per cent.
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Wider retail inflation did slow this month from record highs due to discounts at fashion and furniture stores. The new figures showed shop price inflation of 8.8 per cent in April against the same month a year earlier, easing slightly from 8.9 per cent in March.
It came as non-food stores recorded inflation of 5.5 per cent for the month, falling from 5.9 per cent in March as shops reduced prices in a bid to attract customers. This fall offset the jump in food inflation to 15.7 per cent from 15 per cent in March.
Helen Dickinson, chief executive of the British Retail Consortium (BRC), said: "Overall shop price inflation eased slightly in April due to heavy spring discounting in clothing, footwear, and furniture. However, food prices remained elevated given ongoing cost pressures throughout the supply chain.
"The knock-on effect from increased production and packaging costs meant that ready meals became more expensive and coffee prices were also up due to the high cost of coffee beans, as well as key producer nations exporting less. Meanwhile, the price of butter and vegetable oils started to come down as retailers passed on cost savings from further up the supply chain."
Ms Dickinson added that shoppers "should start to see food prices come down in the coming months" amid reductions in wholesale prices and other costs.
Mike Watkins, head of retailer and business insight at NielsenIQ, said: "In recent weeks, more retailers have used loyalty schemes or money off promotions to help stimulate sales. However, with inflation yet to peak and sales volumes in decline in many channels, it’s difficult to second guess the strength of consumer confidence."
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