Posted 7th February

Shop prices ‘still inching up’, says BRC

By KBBDaily on 7th February 2019 - 07:00am
money matters, brc, british retail consortium, nielsen, shop, price, index, deflation, non-food, kbb, kbbdaily, retail

The latest British Retail Consortium – BRC – Nielsen Shop Price Index has found that UK shop price inflation accelerated to 0.4% in January, up from the 0.3% recorded in December, marking the fourth consecutive month of increasing prices.

Non-food deflation continued to decelerate, the BRC said. Prices fell by 0.3% in January compared with the 0.4% decrease in December, marking the lowest rate of deflation for non-food shop prices since March 2013.

According to the BRC, the lower deflation rate for non-food goods “reflects in part less heavy discounting this January compared to January 2018” for products including furniture, whereas DIY products have seen prices rising since mid-2018.

The BRC added that it expects non-food shop prices to begin edging towards inflationary territory in the next few months. “Despite significant post-Christmas discounting, shop prices in January were slightly up on last year,” said BRC CEO Helen Dickinson.

“Promotions have become the norm in recent years, but it was never going to be possible to continue making seasonal price cuts deeper each year; especially given that the cost of importing many of the goods we buy increased with the post-referendum fall in the pound.

“Consumers have little to fear in terms of inflation over the coming months with many of the underlying pressures on prices easing. That is unless the UK leaves the EU without a deal on the 29th March, leading to increases in the price of many goods in the weekly shopping basket.”

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