BRC-NIQ SHOP PRICE MONITOR – MARCH 2026
Period Covered:
01 – 07 March
2026
- Shop price inflation increased to 1.2% year on year in March,
against growth of 1.1% in February. This is below the 3-month
average of 1.3%.
- Non-Food inflation increased to 0.1% year on year in March,
against a decline of -0.1% in February. This is in line with the
3-month average of 0.1%.
- Food inflation decreased to 3.4% year on year in March,
against growth of 3.5% in February. This is below the 3-month
average of 3.5%.
- Fresh Food inflation increased to 4.4% year on year in March,
against growth of 4.3% in February. This is in line with the
3-month average of 4.4%.
- Ambient Food inflation decreased to 2.0% year on year in
March, against growth of 2.3% in February. This is below the
3-month average of 2.4%.
|
|
Overall SPM
|
Food
|
Non-Food
|
|
% Change
|
On last year
|
On last month
|
On last year
|
On last month
|
On last year
|
On last month
|
|
Mar-26
|
1.2
|
-0.1
|
3.4
|
-0.1
|
0.1
|
0.0
|
|
Feb-26
|
1.1
|
0.0
|
3.5
|
0.0
|
-0.1
|
0.0
|
Note: Month-on-month % change refers to changes in the
level of prices.
Helen Dickinson, Chief Executive of the BRC,
said:
“Shop price inflation edged up in March, despite food inflation
easing as dairy prices fell with lower wholesale milk costs.
Retailers offered promotions on alcohol, TVs and sound systems in
the run up to final Six Nations weekend, as well as on clothing
& footwear to entice consumers to spend.
“Higher costs resulting from the conflict in the Middle East are
starting to feed into supply chains. While retailers will work
with their suppliers to mitigate the impact on prices as far as
possible, inflation will rise, although there are no indications
it will reach the peaks of the last spike in April 2023.
Government needs to look at all the costs that could exacerbate
these price rises, from new healthy food rules to trade changes
with Europe, the Employment Rights Act and non-commodity charges
which make up such a large proportion of energy bills. Ignoring
businesses' concerns risks even higher prices for shoppers.”
Mike Watkins, Head of Retailer and Business Insight, NIQ,
said:
“Whilst it's good news that food inflation slowed in recent
weeks, shoppers are increasingly conscious of the amount of money
they are spending at the checkout, and non-food retailers will be
hoping for a good Easter to drive sales. However, if price rises
come through the supply chain over the next few months, this has
the potential to take the edge off retail growth.”
