UK shop price inflation eased to 1% in October from 1.4% in September, marking the first decline after seven consecutive months of rising pressures, according to the British Retail Consortium. Overall shop prices fell 0.3% month-on-month, driven by discounts on electricals and health and beauty products. Food inflation also slowed to 3.7% from 4.2% previously, while food prices dropped 0.4% on the month, the steepest fall in nearly five years, helped by lower global sugar costs. The BRC noted that prices of chocolate and confectionery declined, offering some seasonal relief for Halloween shoppers. The moderation in shop prices comes as welcome news for policymakers after recent inflation data showed consumer prices running close to double the Bank of England’s 2% target. Chancellor Rachel Reeves has pledged to use her November 26 budget to contain price pressures, after retailers previously blamed her tax measures for adding to costs earlier in the year.