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Shop prices steady in November

Shop prices rose by 0.1% in November, compared to the same month last year, while clothing prices continue to drop.

The overall shop price lift is the third month of inflation in the past five years, and is driven largely by the acceleration in food prices.

The figures from the British Retail Consortium (BRC) Nielson Shop Price Index, indicate that non-food prices were 0.8% lower compared to the same month last year, although the figures do not include Black Friday discounting. This marks the lowest rate of deflation since March 2013.

Helen Dickinson, chief executive of the BRC noted that while the figures were good news for consumers, they could cause problems for retailers in the long run: “The low inflation presents a more difficult picture for retailers who are facing weak consumer demand and uncertainty surrounding Brexit.

“If the Government wishes to rebuild business confidence, they must work fast to ensure we get a transition period that gives retailers and their suppliers time to adapt to business outside the EU.”

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