BGN Entrepreneur

According to some new figures from the British Retail Consortium, it is shown that the food price inflation fell to a record low in Feburary as the cost of fresh groseries fell for the very first time ever since 2006.
The over-all shop price inflation dropped from 2.3% to 1.7% last month, driven down by the drop in food price inflation from 2.9% to 1.3%. In Tesco, Asda, Sainsbury’s and Morrisons, growth was 5% in the 12 weeks to Febury 21st. Waitrose enjoyed the stongest growth, with an increase of 15.5%.
There was more good news for the shoppers as the competition among retailers forced down the price fo electrical items and clothes in spite of the VAT rise in January.
The pace of the growth in the cost of ambient foods, like cereals and tinned goods, also eased in Febury, rising at an annual rate of 3.6%, down from 5.1% in January. According to BRC, it is said that the prices were being pushed up by the rising cost of cocoa and sugar, which has increased the worth of jam, chocolate and confectionery.

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