Prices for clothing and footwear in UK stores fell by 7.1% year on year in November, indicating retailers are yet to pass on the higher cost of importing goods due to the weak pound.
Winchester high street
Overall, shop prices fell by 1.7% last month, driven by lower food prices, according to the BRC and Neilsen’s index.
Black Friday was not included in the report, which covered the period from 7-11 November. However, promotions in the period leading up to Black Friday and Cyber Monday hit prices across all non-food items, which fell by 2.3%.
“These figures once again point to retailers’ effectiveness in controlling the inflationary pressure that continues to build through the devaluation of the pound,” said Helen Dickinson, chief executive of the BRC. “We have still yet to see any visible impact from the weaker pound on shop prices, but we do expect to see a gradual slowing of the rate of deflation.”
She added: “While we may start to see cost pressures beginning to feed through into prices next year, we don’t expect any sudden spikes or surges, and the timing and extent of increases will differ from one category and retailer to the next.”