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Financial News: UK Shop Prices Rise For Second Straight Month:

UK Shop Prices Rise For Second Straight Month: BRC

10/03/2018 - 08:25:00 (RTTNews)

(RTTNews) - UK shop prices increased for the second consecutive month in September after five years of deflation, data from British Retail Consortium showed Wednesday.

The shop price index climbed 0.2 percent year-on-year in September, following a 0.1 percent rise in August.

Food inflation held steady at 1.9 percent. At the same time, non-food deflation eased slightly to 0.9 percent from 1 percent in August with retailers less aggressive in discounting compared to a year ago.

Global commodity conditions, in particular oil prices, would indicate that there are likely to be further inflationary pressures in the short to medium term which could lead to further price rises, Helen Dickinson, chief executive at BRC, said.

"Time is running out for the Government to deliver a Brexit deal with a workable backstop arrangement and a clear transition period. This is not good news for UK shoppers who out of all the stakeholders in the Brexit process ultimately have the most to lose," Dickinson added.

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