Period Covered: 01 – 07
February 2026
- Shop price inflation increased 1.1% year on year in February,
against growth of 1.5% in January. This is in line with the
3-month average of 1.1%.
- Non-Food prices fell 0.1% year on year in February, against
growth of 0.3% in January. This is in line with the 3-month
average of -0.1%.
- Food inflation increased 3.5% year on year in February,
against growth of 3.9% in January. This is in line with the
3-month average of 3.5%.
- Fresh Food inflation increased 4.3% year on year in February,
against growth of 4.4% in January. This is above the 3-month
average of 4.2%.
- Ambient Food inflation increased 2.3% year on year in
February, against growth of 3.1% in January. This is below the
3-month average of 2.6%.
|
|
OVERALL SPM
|
FOOD
|
NON-FOOD
|
|
% Change
|
On last year
|
On last month
|
On last year
|
On last month
|
On last year
|
On last month
|
|
Feb-26
|
1.1
|
0.0
|
3.5
|
0.0
|
-0.1
|
0.0
|
|
Jan-26
|
1.5
|
0.4
|
3.9
|
1.1
|
0.3
|
0.1
|
Note: Month-on-month % change refers to changes in the
level of prices.
Helen Dickinson, Chief Executive of the BRC,
said:
“Households got some welcome relief in February as shop price
inflation eased. Fierce competition between retailers kept price
rises in check, with promotions across health, beauty and
fashion. Falling global food costs also fed through, pushing food
inflation down, with ambient food inflation dropping to its
lowest level in four years.
“While the direction of travel is promising, prices are still
rising, and many consumers remain under pressure. Retail operates
on thin margins yet has faced relentless tax rises in recent
years. The Employment Rights Act could add further complexity if
secondary legislation is implemented without an eye firmly on the
potential consequences for the cost of doing business and hence
the cost of living. Poor implementation decisions by government
would stymie job creation and push inflation back up.”
Mike Watkins, Head of Retailer and Business Insight, NIQ,
said:
“Since the start of the year, we have seen some competitive
pricing across both the food and non-food channels which is
helping to bring down inflation. Whilst the inclement weather and
weak sentiment is making consumer demand rather unpredictable for
retailers, at least shoppers are now seeing some of their cost of
living pressures start to ease.”
