THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Shop price deflation highest for six-and-a-half years, says BRC

Overall shop prices fell by 0.5% in July to mark the biggest drop in six-and-a-half years according to figures released by the British Retail Consortium and Nielsen.

GENERAL MERCHANDISE

Shop price deflation highest for six-and-a-half years, says BRC

The figures show that year-on-year food inflation declined to 2.2% in July and is now at its lowest rate since summer 2010. Non-food inflation fell to 2.1% as retailers continued to discount clothing and footwear.

This is the third consecutive month that the overall cost of goods on the high street has fallen which BRC said was “great news for hard-pressed families”.

BRC director general Helen Dickinson said: "Shop prices have now fallen for three consecutive months compared with last year and July's rate showed the biggest drop for six and a half years. It shows just how hard retailers are working to serve their customers and underlines how deep the promotions and discounts from retailers are at the moment.

"In particular, there has been significant discounting of clothing and footwear across women's, men's and children's categories. Anyone who's been waiting to update their wardrobe would be well advised to look at some of the deep discounts that are currently available.”

Mike Watkins, head of retailer and business insight at Nielsen, added: "Whilst the 2013 heatwave is bringing strong sales uplifts for food retailers it`s holding back some non-food sales growth, so the welcome slowdown in shop price inflation in July should benefit most retailers and help to kick start consumer demand as we enter the peak holiday period."


Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing