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Shop prices continue to fall amid intense competition

Non-food prices fell by 2.1% year on year during September, compared with a 2.5% fall in August, according to the British Retail Consortium (BRC) and Nielsen’s shop price index.

Overall prices fell 1.8% year-on-year – slightly less than the 2% fall in August.

Helen Dickinson, chief executive of the BRC said: “We are now in the fourth year of falling shop prices, so the record-setting run of shop price deflation continues, which is great news for consumers.

“This is as a direct result of the intense competition and transformational change in the retail industry, with consumers having access to more choices and greater ability to compare prices than ever before.”

Mike Watkins, head of retailer and business insight at Nielsen commented that non-food prices may continue to fall in the coming weeks. He said: “The warm and late summer weather was a challenge for many in the non-food channel, so we may well see further price discounts as we move into October.”

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