We have seen price inflation drop significantly to just 0.7% in 2020 (year to date), with the month of March 2020 reporting overall year on year deflation of -2.9% for the first time since FPI records began in 2015.

As we exit this year and look forward to 2021, we know there will be continued challenges from the current perfect storm comprising of COVID-19, Brexit and a recession. However, the vaccine has given us light at the end of the tunnel and the conditions for a recovery are looking brighter.