Posted 1st Aug 2019

Non-food prices see sharp decline in July

1st August 2019 - 08:00am
money matters, brc, british retail consortium, nielsen, shop, price, index, deflation, non-food, kbb, kbbdaily, retail

Low consumer confidence has continued to keep shoppers from splashing out on discretionary items, causing a sharp decline in non-food prices in July, according to the latest British Retail Consortium – BRC – Nielsen Shop Price Index.

While overall shop price deflation for July held “steady” at a decline of 0.1% – marking the second consecutive month of deflation since October 2018 – non-food prices fell by 1.2%. Retailers are responding to the competitive environment by using price discounts to attract customers, BRC said.

“Shop prices fell by 0.1% for the second month in a row,” said BRC CEO Helen Dickinson. “Many consumers will be pleased to see the price of non-food products continuing to fall at a steady rate, underlining the stiff competition between retailers that is driving down prices.”

Nielsen retailer and business insight head Mike Watkins added: “With so much economic uncertainty, it’s good news for shoppers that there was no pressure coming from shop price inflation during July. Looking ahead for the next few months, we anticipate broadly stable food inflation and non-food retailers looking to keep any price increase to a minimum, as shoppers continue to be cautious around their retail spend.”


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