By Michael Susin Shop-price annual inflation in the U.K. slightly rose in May as lower energy and commodity costs started to ease some of the staples

UK shop price inflation reached its highest rate for at least 18 years in May, despite the pace of food price growth marginally easing, according to new sector data.

According to the latest British Retail Consortium-NielsenIQ tracker, shop price inflation increased to 9.0% in May, on an annual basis, up slightly from 8.8% in April. This is above the 3-month average rate of 8.9% and takes shop price growth to a fresh high.

Prices in UK stores are rising at a record pace as the cost-of-living crisis shows little indication of easing. Shop price inflation accelerated to 9% this month, a new peak for an index that started in 2005,