Shop prices fall in August as retailers tempt shoppers with Sales
Shop prices fell for the 15th consecutive month in August, but British Retail Consortium (BRC) chief executive Helen Dickinson warns that the incoming Brexit uncertainty could lead to a hike in prices.
Shop prices dropped by 1.6% in August, compared with a 1.3% decline in July, as retailers used discounting to try to tempt shoppers to spend.
This was below both the 12- and six-month average price decreases of 1% and 1.5% respectively, according to the latest figures from the BRC and Nielsen.
Non-food prices fell by 0.5% from a 2.9% decline in July to a 3.4% drop in August as shoppers limit their spend on discretionary items.
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