old

Year-on-year retail prices were lower for a 28th consecutive month but unchanged in August, according to the British Retail Consortium.


Its BRC-Nielsen Shop Price Index recorded a 1.4 per cent fall last month, the same figure as July, though there was a difference between food and non-food goods.


Food prices were 0.2 per cent up, and increase on the 0.1 per cent figure for the year to July, while non-food price deflation widened to 2.4 per cent, from 2.3 per cent a month earlier.


Furniture prices were 1.2 per cent lower in August, according to the BRC, suggesting official figures will reveal a seventh consecutive flat or negative figure when they are released by the Office for National Statistics next Tuesday.


BRC director general Helen Dickinson said: “August marked the 28th month of falling non-food prices. Clothing retailers discounted heavily in an attempt to shift stock [while] furniture and flooring saw a sharp deceleration in deflation.


“Great deals could be found in Books, Stationery and Home Entertainment. Prices throughout this category fell on average by 5.2 per cent.”



TO READ THE FULL STORY: