Shop prices keep declining in the UK
today Aug 4, 2016
Shop prices in the UK posted deflation of 1.6% in July, from the 2% decline seen in June. This is above the 1.8% 12-month average. Non-food deflation decelerated in the period to 2.2% from 2.8% in June.
When it came to clothing and footwear, deflation decelerated to 6% from 7.3% in June, which is the weakest deflation rate seen since September 2015, the BRC said. There was a deceleration in the deflation rates for the womenswear, menswear and kidswear categories, while clothing accessories saw rising inflation. The only category to report a deeper deflation rate than that seen in June was footwear.
Helen Dickinson OBE, Chief Executive, British Retail Consortium, commented: "The long stretch of deflation continued in July with shop prices falling once again. This is testament to the strength of competition between retailers, which is as fierce as it has ever been. In food retailing, the battle for our custom has seen yet more deflation at near-record levels. Shoppers will have found fresh food prices 1.2 per cent down on the same period last year and ambient food was cheaper for the first time since April 2015."
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