Shop prices continue to fall, reports BRC-Nielsen
Shop Prices fell by -0.3% in January, compared to -0.4% in December, reports BRC-Nielsen. This was below the 12-month average of 0.0% and above the six-month average of -0.5%.
Non-food prices fell by -1.5%, the same rate of decrease as in December.
BRC chief executive Helen Dickinson OBE says: “Shoppers will cheer as non-food prices fell in January, a continuation of the long-term trend in retail. This was tempered by growth in food prices which accelerated to +1.6%, slightly above the six-month average. Grocery prices could rise further as last year’s increase in global food prices filters through to British shelves – nonetheless, food prices remain low by European standards.”
Mike Watkins, head of retailer and business insight at Nielsen, adds: “There is no inflationary pressure coming from the high street as shoppers remain nervous about spending and discounting continues for many non-food retailers.”