U.K. Retailers Take Drastic Action

Retailers in the UK cut their prices during the January sales at the fastest rate in at least seven years, says the British Retail Consortium (BRC).

The industry body said shop prices were 1% lower in January than the same time in 2013, the biggest annual decline since the survey started in 2006.

It said prices had been falling for nine consecutive months.  Discounting in shops selling clothing, electrical equipment and furniture retailers was partly behind the fall.


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