The British Retail Consortium (BRC) says “Black Friday deals began earlier than normal as competition between retailers hit fever pitch”.
It said shop inflation decreased to 0.6% in November, below the 3-month average of 1.0%.
The BRC reported non-food inflation had decreased to -0.6% year-on-year last month, against a decline of -0.4% in October. Food inflation also decreased to 3.0% year-on-year in November, compared to 3.7% in October.
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Helen Dickinson, chief executive of the BRC, said: “Savvy shoppers picked up some great deals across health & beauty, electricals and fashion.
“While food price inflation remains elevated, widespread promotions meant price rises eased over the month, especially in dairy, fruit, breads, and cereals. Inflation remained stubbornly high for oils and fats, and meat and fish, as climbing input costs passed through from producers.”
The BRC also highlighted that fresh food inflation had decreased 3.6% year-on-year, which is below the 3-month average of 4.0%. Ambient Food inflation also saw a decrease of 2.4%.
Dickinson added: With Budget uncertainty behind us, retailers are hoping that consumer confidence rebounds in this crucial trading period and they will continue doing everything they can to keep prices down and help customers’ money go further this Christmas.
“Headwinds in the new year include rising employment costs, which are likely to filter through to prices. This could shake already weak consumer confidence and present further challenges for consumers in the year ahead.”
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