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.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.