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Shop prices continue to fall

 

 

 

 

Prices fell for the fifth consecutive month in the first week of October, as heavy discounting and an “uncertain economic environment” pervaded.

Shop price deflation fell from 0.6% in September to 0.4% in October, the BRC Nielsen Shop Price Index shows. 

Non-food deflation slowed  from 1.7% in September to 1.5% in October. This is below the 12- and 6-month average price declines of 0.7% and 1.2%, respectively.

Helen Dickinson, CEO of the British Retail Consortium, said: “Consumers continue to benefit from lower shop prices, with October being the fifth consecutive month of decline.

“Non-food prices have fallen well below the 12-month average, with greater discounting taking place as retailers seek to stimulate additional sales.

“The year has seen relatively weak sales and retailers hope that Black Friday and Christmas will reverse this trend with the help of lower prices.”

Head of retailer and business insight at Nielsen Mike Watkins added: “With an uncertain economic outlook at the start of the ‘golden quarter’, the industry has been working hard to stimulate demand and keep price increases as low as possible.

“Seasonal ranges are now in store, and we can expect an increase in promotional activity in the run up to Christmas, which will give shoppers further savings at the checkout. ” 

Non-Food deflation decelerated to 1.5% in October from -1.7% in September. This is below the 12- and 6-month average price declines of 0.7% and 1.2%, respectively.

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