Report: basic products in stores indicate reversal of price trend
Retail price growth picked up slightly in September, interrupting its recent slowdown, but analysts say the data do not signal a sharp new wave of inflation. Prices across 17 product categories were up 1.9% y/y, compared with 1.7% in August. Food and nonalcoholic beverages rose 1.1%, still 0.8 percentage points less than the overall basket. Experts cite higher commodity and production costs, seasonal changes in food supply, and fewer retailer promotions as possible factors.
High global energy prices, linked partly to oil and gas shipping disruptions in the Strait of Hormuz, may also raise production and distribution costs. The report analyzed more than 95,400 prices across 47,000 stores.