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Shop prices fall again, BRC finds

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Shop prices have now been falling for over a year, according to figures from the British Retail Consortium.

Overall shop prices fell 1.4 per cent in May year-on-year as clothing and footwear prices, which fell by 11.4 per cent, drove the deflation.

Mike Watkins, head of retailer and business insight at Nielsen, said: “Food inflation is still low, many supermarkets are price cutting and non-food prices remain deflationary, so the high street continues to generate little inflationary pressure. Little in the way of immediate seasonal or weather related price increases is anticipated so the outlook for the next three months is for relatively stable shop price inflation.”

Helen Dickinson, director general of the BRC explained: “Value was also a mainstay across the gardening and DIY categories, as retailers competed to cater for strong demand over the May Bank Holiday. Food inflation remaining at its lowest level since our records began is great news for hard-pressed households as the summer approaches, and confirms that retailers are responding to current conditions by matching attractive offers with those products most in demand at this time of the year.”

Insiders expect retailers to keep prices down for the foreseeable future with the World Cup fast approaching.

Published on Wednesday 04 June by Editorial Assistant
Tags: Shop Price

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