Price increases at UK retailers fell in early May to their lowest level in more than two years, adding to signs of an improving economic outlook. The rise in shop prices slowed to 0.6% in the first week of May, its lowest since the end of 2021, the British Retail Consortium said on Tuesday. That was below the category’s three-month average of 0.9% and its advance of 0.8% in the same period last month. Inflation is also falling in other categories in the BRC-NielsenIQ index. Increases in food prices slowed to 3.2% in the May survey from 3.4% the month before. Non-food, meanwhile, was deflationary for the second month ... (full story)