Shop prices fall in February as consumers limit spending in lockdown

Black Friday sale sign

Shop prices continued to fall in February, reaching the lowest rate of deflation since May 2020.

Shop prices fell by 2.4% in February, lower than January’s decrease of 2.2% as the impact of lockdown on consumer spending subsisted.

This was below the 12- and six-month average price decreases of 1.7% and 1.8% respectively, according to the BRC-Nielsen Shop Price Index.

The rate of deflation was exacerbated by non-food prices, which fell 3.9% in February compared with a 3.6% decline in January, as retailers tried to tempt shoppers to buy.

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