Shop prices remain in deflation but this is set to be short lived
Shop prices have remained in a state of deflation in February, but there are warnings that inflation can rise due to recent price hikes, geopolitical tensions, and the £7bn in added retail costs.
Overall, shop price deflation was 0.7% in February, remaining the same from January and slightly below the three-month average of 0.8%, according to the latest BRC-NielsenIQ shop price index data.
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