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

UK shop prices fall 1.9 percent on year in May - BRC

Published 03/06/2015, 00:03
© Reuters. A woman carries shopping bags as she walks along Oxford Street in central London

LONDON, June 3 (Reuters) - Prices in British shops last month were 1.9 percent lower than a year earlier, the same rate of decline as in April when Britain's overall inflation rate turned negative, the British Retail Consortium said on Wednesday.

The BRC said food prices fell 0.9 percent, also unchanged from April, although fresh food prices in particular plunged 1.9 percent, their sharpest fall since the survey started in 2006.

"Retailers continue to use price cuts and promotions to stimulate sales which is helping to maintain shop price deflation, and we see little evidence to suggest that prices will rise in the near future," said Mike Watkins, head of retailer and business insight at survey compiler Nielsen.

The BRC figures show prices falling much faster than the broader consumer price inflation measure targeted by the Bank of England. The CPI includes faster-rising costs such as utility bills, entertainment, healthcare and university tuition.

© Reuters. A woman carries shopping bags as she walks along Oxford Street in central London

Consumer price inflation fell below zero for the first time in more than half a century in April but BoE Governor Mark Carney said the dip was likely to be brief.

(

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.