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.

Reuters

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