Responding to the latest CPI inflation figures
which shows headline inflation falling to 6.8% and food inflation
falling to 14.8%, Helen Dickinson, Chief Executive of the British
Retail Consortium, said:
“Headline inflation fell again, driven by falling household bills
and clothing prices. Food inflation eased to its lowest level in
almost a year: many households will find their mornings getting
cheaper, with price drops in tea, coffee, milk, breakfast cereals
and fruit. Meanwhile, clothing retailers mitigated the wet
weather with larger discounts across their ranges.
“There remains potential stumbling blocks ahead. Russia’s
withdrawal from the Black Sea Grain Initiative and subsequent
targeting of Ukrainian grain facilities, as well as rice export
restrictions could put pressure on some global commodity prices,
slowing the fall in food prices. Retailers continue invest
heavily in keeping falling prices on track. Government can
support these efforts by freezing business rates from next April,
or else risk adding a £400m additional pressure on prices.”
-ENDS-
Notes:
-
ONS Consumer Price Index figures, July 2023.
|
Year on Year changes
|
Jun-23
|
Jul-23
|
|
CPI (overall index)
|
7.9%
|
6.8%
|
|
01 Food and non-alcoholic beverages
|
17.3%
|
14.8%
|
|
02 Alcoholic beverages and tobacco
|
9.2%
|
9.4%
|
|
03 Clothing and footwear
|
7.2%
|
6.6%
|
|
04 Housing, water, electricity, gas and
other fuels
|
12.0%
|
6.8%
|
|
05 Furniture, household equipment and
maintenance
|
6.5%
|
6.2%
|
|
06 Health
|
8.2%
|
8.9%
|
|
07 Transport
|
-1.8%
|
-2.0%
|
|
08 Communication
|
9.5%
|
7.1%
|
|
09 Recreation and culture
|
6.7%
|
6.5%
|
|
10 Education
|
3.2%
|
3.2%
|
|
11 Restaurants and hotels
|
9.5%
|
9.6%
|
|
12 Miscellaneous goods and services
|
6.5%
|
6.0%
|
