Drop in UK non-food shop prices accelerated in February
Shop prices dropped for a 22nd consecutive month running in February, as deflation in the non-food sector accelerated, according to an industry survey.
The British Retail Consortium’s (BRC) monthly shop price index declined by 1.7% in year-on-year terms.
The prices of non-food products decreased by 2.5% and those for food stuffs slipped 0.4%. That followed falls of 1.8% and 0.5% in the previous month, respectively.
BRC Director General Helen Dickinson pointed out how the retreat in prices was in-line with the twelve-month average and led by great bargains on the high street, especially for clothing.
Dickinson added: “The fiercely competitive market will see retailers continuingly responding to their customers with keen prices and promotions to maintain market share.”