Shop price inflation increased by 1.1 per cent year-on-year between 1 February and 7 February, compared to a growth of 1.5 per cent in the month prior, according to the latest figures from the British Retail Consortium (BRC).

The data found that fresh food inflation went up by 4.3 per cent year-on-year, compared to 4.4 per cent growth in January.

Meanwhile, ambient food inflation grew by 2.3 per cent in February from a 3.1 per cent increase in the previous month.

Helen Dickinson, CEO of the BRC, said: “Households got some welcome relief in February as shop price inflation eased. Fierce competition between retailers kept price rises in check, with promotions across health, beauty and fashion.

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“Falling global food costs also fed through, pushing food inflation down, with ambient food inflation dropping to its lowest level in four years.”

Mike Watkins, head of retailer and business insight, NIQ, said: “Since the start of the year, we have seen some competitive pricing across both the food and non-food channels which is helping to bring down inflation.

“Whilst the inclement weather and weak sentiment are making consumer demand rather unpredictable for retailers, at least shoppers are now seeing some of their cost of living pressures start to ease.”