Food and Shop Price Inflation Eases to Lowest in 2 Years Amid Price Wars and Falling Energy Costs

• Food price inflation dropped to 5% in February, the lowest rate in nearly 2 years, due to falling energy costs and supermarket price wars • Overall shop price inflation eased to 2.5% in February from 2.9% in January • Non-food prices rose 1.3% year-over-year and 0.7% month-over-month in February • Retailers are competing aggressively on prices to attract budget-conscious shoppers • Shipping disruption could push up prices of non-food items, while sales are expected to fall further