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.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.