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Shop prices edge up despite January Sales

Shop prices rose by 0.4% in January, compared to the same month last year, despite end of season Sales across the high street. 

The overall shop price lift is the fourth consecutive month of inflation, and the highest inflation rate since April 2013.

Figures from the British Retail Consortium (BRC) Nielson Shop Price Index, indicate that non-food prices were 0.3% lower than in the same month last year.

Helen Dickinson, chief executive of the BRC, said: “Promotions have become the norm in recent years, but it was never going to be possible to continue making seasonal price cuts deeper each year; especially given that the cost of importing many of the goods we buy increased with the post-referendum fall in the pound.

“Consumers have little to fear in terms of inflation over the coming months with many of the underlying pressures on prices easing. That is unless the UK leaves the EU without a deal on the 29 March, leading to increases in the price of many goods in the weekly shopping basket.”

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