Shop prices hit record high – again – and show no signs of falling

Food prices continue to rise despite overall inflation cooling in recent months

Shop prices have risen to a record high despite overall inflation cooling over the past three months, new figures show – and grocery bills are likely to remain high for months to come.

In a stark reminder that the cost of living crisis is far from over, the British Retail Consortium said shop prices were now 8.4 per cent higher than they were a year ago. This was up from 8 per cent in January and well above the three-month average of 7.8 per cent, according to the BRC-NielsenIQ Shop Price Index.

Analysts at the BRC said soaring prices continued to be driven by high energy bills fuelled by Vladimir Putin’s illegal war in Ukraine.