Food Prices Fall To Record Low In August

Food prices fell by 1.1% in the year to August, bringing the cost of food to record lows and continuing the decline of recent months. Analysis of shop prices by the British Retail Consortium (BRC) and Nielsen shows that overall prices saw a drop of 2% year-on-year, with clothing and footwear seeing a particular fall of 6.8%. Intense competition in the grocery market sector has pushed the price of a weekly shop ever lower, with BRC chief executive Helen Dickinson pointing to availability of resou