Responding to the latest CPI
inflation figures which show headline
inflation falling to 3.4% and food inflation falling 1.9
percentage points to 5.0%, Kris Hamer, Director of Insight of the
British Retail Consortium, said:
“After a rocky start to 2024, inflation is once again on its way
down. February’s figures were driven by falls in food and
clothing and footwear as well as cheaper energy prices. Food
inflation fell once again, to its lowest rate since January 2022,
as retailers continue to deliver the best service to their
customers and communities. Households benefited from falling
prices of fish, crisps and jam.
“While today’s inflation figures will be good news for consumers,
Government must not be complacent. Significant costs on the
horizon may put renewed pressure on overall inflation in the near
future; these include a 6.7% rise in business rates, and reforms
to the packaging levy and electrical takeback schemes, all in the
context of the biggest rise to NLW on record. This will limit
investment and drive up costs at a time when many families are
still facing a higher cost of living.”
-ENDS-
Notes:
-
ONS Consumer Price Index figures
|
Year on Year changes
|
Jan-24
|
Feb-24
|
|
CPI (overall index)
|
4.0%
|
3.4%
|
|
01 Food and non-alcoholic beverages
|
6.9%
|
5.0%
|
|
02 Alcoholic beverages and tobacco
|
12.4%
|
11.9%
|
|
03 Clothing and footwear
|
5.6%
|
5.0%
|
|
04 Housing, water, electricity, gas and
other fuels
|
-2.1%
|
-1.7%
|
|
05 Furniture, household equipment and
maintenance
|
0.4%
|
0.0%
|
|
06 Health
|
6.9%
|
6.5%
|
|
07 Transport
|
-0.3%
|
-0.1%
|
|
08 Communication
|
8.2%
|
5.6%
|
|
09 Recreation and culture
|
5.7%
|
5.4%
|
|
10 Education
|
4.5%
|
4.5%
|
|
11 Restaurants and hotels
|
7.0%
|
6.0%
|
|
12 Miscellaneous goods and services
|
4.5%
|
3.6%
|
