Inflation in UK shops drops to lowest level in two years

Retailers cut the price of Easter treats, clothing and electrical items as consumer spending slowed

Inflation in shop prices in the UK has eased to the lowest level for more than two years after retailers cut prices on Easter treats, clothing and electrical goods amid a slowdown in spending by consumers in the cost of living crisis.

Industry figures show prices rose at an annual rate of 1.3% in March, down from a rate of 2.5% in February - the slowest pace since December 2021, according to the latest monitor from the British Retail Consortium (BRC) trade body and the market research firm NielsenIQ.