Food prices see first fall for two years

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This article is brought to you by Retail Technology Review: Food prices see first fall for two years.

Comment by Arun Singh, Global Chief Economist at Dun & Bradstreet.

The British Retail Consortium (BRC) has reported that food inflation barely changed in September 2023, falling by 0.1% compared with the previous month. However, food prices remain almost 10% higher than a year ago as supply chain disruption and rising energy prices have increased the cost of producing and transporting groceries. Households will likely see lower food prices in coming months as high interest rates continue to feed through to lower demand.

Our research shows that business leaders globally consider the increasing cost of doing business a significant threat to their business’ survival. In light of this, businesses are going to have to continue to focus on how they can remain resilient, productive and competitive as the UK economy cautiously navigates itself through this rocky period. 

This is where quality data insights can provide a competitive advantage by helping them manage and mitigate risk, while also identifying new opportunities and growth, which combined help to bolster business resilience.

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