Overall shop price inflation remained steady in December. Households did have reason to celebrate as food inflation fell for the eighth consecutive month thanks to retailers’ efforts to bring down prices in the run-up to Christmas. There was cause for merriment as prices of wine, port and sherry fell on the month. Non-food products had a more challenging December, with price inflation rising again following retailers’ investment in November Black Friday discounting and ahead of the January sales. Retailers will continue to do all they can to keep prices down in 2024, but there are obstacles on the road ahead. New ... (full story)