Posted 10th January

Deflation on non-food shop prices slows

By KBBDaily on 10th January 2019 - 08:00am
money matters, brc, british retail consortium, nielsen, shop, price, index, deflation, non-food, kbb, kbbdaily, retail

Deflation on non-food shop prices decelerated from 0.8% in November to 0.4% in December, according to the latest British Retail Consortium – BRC – Nielsen Shop Price Index, marking the lowest rate of deflation since March 2013.

According to the BRC, non-food prices “stabilised” over 2018, leading to a slowing of the rate of deflation due to “delayed impacts on non-food shop prices of the post-referendum exchange rate and a change in the promotional strategies deployed by retailers”.

“December’s shop price figures only serve to underline how tough conditions are in the retail industry,” said BRC CEO Helen Dickinson, pictured. “Despite non-food goods being cheaper on average than last year, early indications suggest that retailers faced a challenging environment throughout the festive season.”

She added: “Shoppers may have become accustomed to great value, but Brexit uncertainty means that a continuation of the low prices is by no means guaranteed. Without a trade deal with the EU, the cost of importing many of the goods we buy day to day will go up significantly and retailers simply do not have the room in their margins to protect consumers from those costs.

“Unless Parliament comes together behind a deal that ensures frictionless, tariff-free trade we could see prices paid by UK households rise substantially.”


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