Grocery price inflation has fallen to a two-year low as fierce competition among supermarkets offset the cost of disruption to Red Sea shipping routes, figures show.Supermarket prices were 5.3% higher than a year ago in February, the lowest rate since March 2022 and a decrease marking the lowest rate since March 2022 and a significant drop from January's 6.8%, according to analysts Kantar.

Grocery price inflation has fallen to a two-year low as fierce competition among supermarkets offset the cost of disruption to Red Sea shipping routes, figures show.Supermarket prices were 5.3% higher than a year ago in February, the lowest rate since March 2022 and a decrease marking the lowest rate since March 2022 and a significant drop from January's 6.8%, according to analysts Kantar.