Shop Price Declines are Slowing as Sterling Depreciation Takes Hold

Prices in British shops fell last month by the smallest margin since mid-2015, in a further sign that rising costs linked to June’s Brexit vote are feeding into high street prices, an industry survey showed on Wednesday.

Shop prices fell 1.4 percent, the smallest annual drop since August 2015 and compared with a 1.7 percent decline in November, the British Retail Consortium (BRC) said.

It repeated its forecast that shop prices would soon begin to rise for the first time since 2013.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
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 Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. 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.