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

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam