British Shop Prices Decline by Smallest Amount Since August – BRC

British shop prices fell by the smallest amount in seven months in March, but continued their slide as retailers cut prices to attract customers.

The British Retail Consortium said shop prices eased by 1.7 percent year-on-year in March, the smallest fall since August 2015, slowing from a 2.0 percent drop in February.

The decline in non-food prices slowed in March, easing an annual 2.6 percent last month from a 3.0 percent decrease in February. Food prices declined 0.4 percent year-on-year for the second straight month.

The fall in overall shop prices was “a result of continuing intense competition and retailers ongoing investment in price,” said BRC chief executive Helen Dickinson.

Reuters

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.