✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

Deflation on UK high streets eases in June - BRC

Published 08/07/2015, 03:20
© Reuters. Pedestrians walk past sale signs in the windows of a shop on Oxford Street in London

LONDON, (Reuters) - Prices in British high street stores fell at a slower pace last month as consumer sentiment strengthened, the British Retail Consortium said on Wednesday.

The BRC said that its shop price index dropped by 1.3 percent in June, the smallest decline since January, after a 1.9 percent drop in May.

"Consumer spending, one of the main drivers of the recovery, should remain robust over the summer," BRC Director General Helen Dickinson said.

Britain's broader official measure of inflation, the consumer prices index, showed its first year-on-year fall in prices in more than 50 years in April, before rising back above zero in May.

The Bank of England expects the CPI to start rebounding rapidly towards its 2 percent target later this year as the steep fall in oil prices in late 2014 drops out of year-on-year comparisons.

© Reuters. Pedestrians walk past sale signs in the windows of a shop on Oxford Street in London

The BRC said it expected that low inflation, combined with rising wages and consumer lending, would help ensure demand remained robust over the coming months.

(

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.