UK shop prices fall for 34th consecutive month
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Shop prices fell 2% year-on-year in February, the 34th consecutive decline following January’s 1.8% fall.
That’s according to British Retail Consortium (BRC) and Nielsen’s monthly Shop Price Index, which found non-food deflation, which includes jewellery, remained at 3% for the third consecutive month.
On a 12-month average basis, the index reported deflation of 1.8%.
Helen Dickinson, chief executive of the BRC, said: “With consumer confidence falling back and wage growth remaining subdued, retailers continue to support their customers with prices and promotions to maintain market share in the tough trading environment.
“Against this backdrop we are asking government to work more collaboratively with us to address business rates and ensure the successful implementation of policy measures, such as the National Living Wage and the apprenticeship levy.”
Mike Watkins, head of retailer and business insight at Nielsen, added: “Getting a larger share of the wallet of shoppers continues to a challenge for many food and non-food retailers and competition remains intense on the high street.”
