Figures show shop prices continue to plummet

New figures released by the The British Retail Consortium (BRC)  have shown that shop prices are continuing a downward pattern for the 15th consecutive month.

The numbers don’t include e-commerce or online retail but do include superstores, town centre department stores, local parade stores and shopping centres.

Statistics also show that deflation increased to 1.9%, which is the lowest dip since 2006 when BRC began their Shop Price Index.

Director general of BRC Helen Dickinson said:

“Deep and widespread discounting across the grocery sector is intensifying with prices falling almost one per cent month-on-month – another record jump.

“The stronger sterling making imports cheaper and wavering retail spending, current levels of deflation are expected to continue.

Structural changes in retail are challenging existing business models which in many cases are squeezing margins while other costs, such as business rates, continue to rise.”

Source: Real Business

Image source: The Telegraph

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