Posted Thursday

Retail sales rise as shop prices 'teeter' on brink of inflation

By KBBDaily on 12th October 2017 - 08:00am

Retail sales increased by 1.9% on a like-for-like basis in September, while shop prices neared inflation with their shallowest deflation level in the last four years of 0.1%, according to the latest British Retail Consortium – BRC – KPMG Retail Sales Monitor and BRC – Nielsen Shop Price Index, respectively.

Non-food price deflation accelerated to 1.5% last month, the BRC said, while non-food retail sales increased by 0.5% on a like-for-like basis over the three months to September. Online sales of non-food items grew by 10.7% last month, with the online penetration rate reached 22.4%.

“Overall shop price deflation reached an all-time low in September with prices now teetering on the edge of inflation,” said BRC CEO Helen Dickinson. “Retailers’ efforts to shield shoppers from the impact of higher import prices of basic non-food items are holding out for now. However, as more non-food retailers’ hedging facilities come to an end this autumn, and as public policy costs mushroom, consumers are likely start feeling an additional pinch on these products.”

On retail sales, she added: “From a consumer perspective, spending is still being focussed towards essential purchases; with consumers buying their winter coats and back to school items, but shying away from big ticket items such as furniture and delaying the renewal of key household electrical goods.”

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