Non-food deflation eased to its lowest level since December 2017 in July, new research from Nielsen and the British Retail Consortium shows.
Deflation of non-food items stood at 1.4% in July, down from 1.6% in June. Overall shop price deflation continued to ease, as prices fell on average by 0.3%, down from June’s level of 0.5%.
Commenting on the figures ,Mike Watkins, head of retailer and business insight at Nielsen said: “On the non-food high street, retailers are maintaining the level and depth of price cuts and promotions to help drive footfall over the holiday period.
”Looking ahead, with weather-related changes in commodity markets anticipated, fluctuating currencies and wavering consumer spending, retailers still need to minimise price increases, as the underlying trading conditions across the retail industry remain challenging.”