UK Shop Prices Decline for First Time in Nearly Three Years

Retailers' summer sales and easing food inflation contribute to a 0.3% drop in August prices, driven by discounts on non-food items.

Non-food goods saw a 1.5% price drop, including clothing and electronics.
Food prices rose by 2%, the slowest increase since November 2021.
Fresh food inflation saw the biggest monthly decrease since December 2020.
Retailers faced a challenging summer with poor weather and cost-of-living pressures.
Future inflationary pressures remain uncertain due to climate and geopolitical factors.