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November marks half year of shop price decline

Shop prices continued to fall in November, marking the sixth consecutive month of decline ahead of peak Christmas trading. 

November shop prices fell by 0.5%, according to the BRC Neilson Shop Price Index. 

This is compared to a 0.4% decrease in October and below the 12-month average price increase of 0.1% and six-month average decrease of 0.4%. 

Non-food prices fell by 1.6% in November, against a 1.5% decrease in October. This again fell below the 12-month and six-month average declines of 0.8% and 1.4% respectively. 

Helen Dickinson, chief executive at BRC, said: ”Non-food prices fell well below the 12-month average. The economic and political uncertainty has weakened demand for non-essential items. As a result, retailers have pushed for even deeper price cuts to encourage consumers to open their wallets.”

Head of retailer and business insight at Nielsen, Mike Watkins, added: ”With fragile consumer confidence, retailers are keeping price increases to a minimum to encourage consumers to spend and there is little inflationary pressure coming from the high street. With Black Friday discounts and promotions already giving shoppers further savings, any new pricing initiatives to drive demand in the final weeks up to Christmas will need to be balanced to protect margins.”

 

 

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