Economic Buzz: UK shop price inflation accelerates in August

UK shop price inflation accelerated to the highest since early last year in August due to higher food prices, the British Retail Consortium reported Tuesday.

Shop price inflation rose to 0.9 percent in August from 0.7 percent in July. This was the highest since March last year.

The increase was driven by the annual rise in food inflation to 4.2 percent from 4.0 percent in July. Meanwhile, non-food prices declined 0.8 percent, following a 1.0 percent drop a month ago.

Month-on-month, shop prices logged a steady growth of 0.2 percent in August.

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