LONDON (Reuters) - British shop price inflation eased slightly in March but held in the tight range that has prevailed for the past six months, the British Retail Consortium said yesterday.

The BRC reported annual shop price inflation slipped to 1.1 percent in March after 1.3 percent in February.

The BRC rebased its series last year, making comparisons with earlier data difficult.

The industry group noted a slowdown in food price inflation which registered no month-on-month increase for the first time since August last year.

"With customers' finances under real strain, retailers recognise value is crucial," said BRC director general Stephen Robertson.

"They've cut many prices and overall annual shop price inflation has fallen back to levels not seen since November."

In the last six months, annual shop price inflation has held in a range of 1.0 to 1.3 percent.

On a month-on-month basis, shop prices rose by 0.2 percent after a 0.4 percent increase in February.

The BRC reiterated its call for the Bank of England to cut interest rates to ease pressure on retailers, many of whom have seen their margins squeezed by a combination of weaker demand and rising costs.