Search

Store wars see inflation rate dive

PUBLISHED: 10:48 17 June 2014 | UPDATED: 10:48 17 June 2014

City of London. Gherkin. Picture: Stefan Rousseau/PA Wire

City of London. Gherkin. Picture: Stefan Rousseau/PA Wire

Inflation fell sharply to a four-and-a-half-year low in May as supermarket price wars pushed food and drink costs to their steepest decline in nearly a decade.

The Consumer Prices Index (CPI) measure of inflation dropped more heavily than expected to 1.5pc, from 1.8pc the month before, the Office for National Statistics (ONS) said.

CPI equalled the rate seen in October 2009. It was last lower, at 1.1pc, in September 2009.

The latest figures mark the sixth month in a row when the rate has been at or below the Bank of England’s 2pc target, the first time this has happened since 2009.

Search hundreds of local jobs at Jobs24

comments powered by Disqus
Management Jobs

Show Job Lists

Newsletter Sign Up

Sign up to receive our regular email newsletter

Insight

Dr Belinda Clarke wants to be a “catalyst” to turn science and technology innovations into useful tools for the food and farming industries. She told CHRIS HILL how this drove her leadership of Agri-Tech East, winner of an EDP Business Award.

Simon Innes had more than 15 years of retail management experience when he joined CVS Group in 2004 and has since steered the company
to national success and an EDP Business Award. He told BETHANY WHYMARK about the company’s growing dominance in the animal care sector.

Green 100

cover

Enjoy the Green 100
digital edition

Read
0

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100