UK Shop Prices Drop Again in October, More Falls Expected in Xmas Run-Up – BRC

Prices in British shops in October were 1.8 percent lower than a year earlier, a slightly less marked rate of decline than in September, the British Retail Consortium said on Wednesday.

The BRC said it expected shop prices to continue falling in the run-up to the Christmas trading period as retailers try to attract shoppers.

Food and non-food prices fell last month at a slower rate, the BRC said, with clothing, books and DIY items experiencing the deepest levels of deflation.

“With the all-important Christmas trading season arriving soon, non-food retailers will need to maintain these lower prices to drive footfall,” Mike Watkins, head of retail and businessinsight at data company Nielsen, which collates the data, said.


Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.