Price rises in British shops have slowed to their lowest rate since October but they are still significant, new data shows.
Prices rose 6.9% in the year to August, down from 8.4% in July, the British Retail Consortium (BRC) said.
Meat, potatoes and some cooking oil prices have risen less sharply.
Meat, potatoes and some cooking oil prices have risen less sharply.
Up until last month, a deal between Russia and other countries allowed the safe passage of grain out of Ukraine, but Russia has now pulled out of that deal, known as the Black Sea Grain Initiative.
This, combined with India’s decision to place export restrictions on rice, means there are now “dark clouds on the horizon”, the BRC said.
The retail trade association also blamed a rise in taxes on alcohol.
“These figures would have been lower still had the government not increased alcohol duties earlier this month,” BRC chief executive Helen Dickinson said.
She said some ingredients in toiletries and cosmetics had become cheaper, which helped to ease price rises in these categories.
Price rises in British shops have slowed to their lowest rate since October but they are still significant, new data shows.
Meat, potatoes and some cooking oil prices have risen less sharply.
Prices rose 6.9% in the year to August, down from 8.4% in July, the British Retail Consortium (BRC) said.
Up until last month, a deal between Russia and other countries allowed the safe passage of grain out of Ukraine, but Russia has now pulled out of that deal, known as the Black Sea Grain Initiative.
Meat, potatoes and some cooking oil prices have risen less sharply.
Meat, potatoes and some cooking oil prices have risen less sharply.
Up until last month, a deal between Russia and other countries allowed the safe passage of grain out of Ukraine, but Russia has now pulled out of that deal, known as the Black Sea Grain Initiative.
This, combined with India’s decision to place export restrictions on rice, means there are now “dark clouds on the horizon”, the BRC said.
The retail trade association also blamed a rise in taxes on alcohol.
“These figures would have been lower still had the government not increased alcohol duties earlier this month,” BRC chief executive Helen Dickinson said.
She said some ingredients in toiletries and cosmetics had become cheaper, which helped to ease price rises in these categories.
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