UK shop price inflation slows to 1.4% in September as retailers cut prices

In September 2026, UK shop price inflation slowed to 1.4% from 1.5% in August, according to the British Retail Consortium and NIQ. Food inflation eased to 2.5% from 2.8%, with fresh food at 2.6%. Non-food inflation fell to 0.8%. Retailers used promotions and price cuts to attract customers, offsetting higher costs from poor harvests and global commodity prices. The report offers some reassurance to the Bank of England, though policymakers warn of potential rate increases if the conflict persists.