Reading, UK: The Cold Chain Federation has welcomed new industry figures that show the annual rate of shop price inflation almost halved in March.
The British Retail Consortium (BRC) said that the rate at which prices were rising had dropped to 1.3% in March – down from 2.5% in February. It is the lowest since December 2021, when it was 0.8%, and the first reading below 2% in more than two years.
Phil Pluck, chief executive of the Cold Chain Federation, said: “I welcome the news that food inflation appears to be falling. This is a much-needed respite for consumers who have been hammered by rising prices in recent months.
“However, it is important to remain cautious about the outlook for the rest of the year. The changes at the border at the end of April could lead to renewed inflationary pressures, particularly for food.
“The Cold Chain Federation is urging the government to take steps to mitigate these risks and ensure that a fresh wave of price rises does not hit businesses and consumers.”
