Retailers are protecting shoppers from food price rises, according the British Retail Consortium.
BRC figures released today show wholesale food prices rose 6 per cent in May and 4.7 per cent in April, but the overall Shop Prices Index was up by just 1.8 per cent and 1.2 per cent over the same periods.
BRC director-general Steven Robertson said: “Intense pressure from rising costs has pushed up the shop price of food, but it is clear that retailers are continuing to shield customers from the full impact.
“Shop prices have gone up much less than factory gate prices, up nearly 10 per cent on last year, and oil prices, up more than 80 per cent.”
At the same time, prices in London shops during April and May rose by less than the Government’s official rate of inflation. Robertson said that this was the outcome of continued discounting as retailers reacted to weak consumer confidence and tighter household budgets.
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