Inflation eased but food prices high
Responding to the latest CPI inflation figures which shows headline inflation at 10.1% and food inflation at 19.1% Helen Dickinson, chief executive of the British Retail Consortium, said: “While households will be pleased to see that inflation may have passed its peak, prices are still high.
Food prices, especially for fruit, vegetables and sugar, rose as poor harvests in Europe and North Africa reduced availability, and the weak pound made importing more expensive. Meanwhile, discounting helped inflation to ease in other areas such as furniture, and clothing & footwear.
“With food price inflation likely to slow in the coming months as we enter the UK growing season, we expect wider inflation will continue to ease. Nonetheless, prices for consumers will remain high, especially as household bill support is lifted. Retailers remain committed to helping their customers and keeping prices as low as possible, by expanding value ranges and offering discounts for vulnerable groups. We need Government to play its part by minimising the oncoming regulatory burdens, as these will hinder investment and will ultimately contribute to ongoing higher prices for households.”
- ONS Consumer Price Index figures, March 2023.
| Year on Year changes | Feb-23 | Mar-23 |
| CPI (overall index) | 10.4% | 10.1% |
| 01 Food and non-alcoholic beverages | 18.0% | 19.1% |
| 02 Alcoholic beverages and tobacco | 5.7% | 5.3% |
| 03 Clothing and footwear | 8.1% | 7.2% |
| 04 Housing, water, electricity, gas and other fuels | 26.6% | 26.1% |
| 05 Furniture, household equipment and maintenance | 8.7% | 8.0% |
| 06 Health | 6.8% | 7.1% |
| 07 Transport | 2.9% | 0.8% |
| 08 Communication | 3.7% | 3.7% |
| 09 Recreation and culture | 4.0% | 4.6% |
| 10 Education | 3.2% | 3.2% |
| 11 Restaurants and hotels | 12.1% | 11.3% |
| 12 Miscellaneous goods and services | 6.6% | 6.7% |
