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Financial News: UK Shop Prices Continue To Fall In June:

UK Shop Prices Continue To Fall In June: BRC

06/30/2021 - 01:37:00 (RTTNews)

(RTTNews) - UK shop prices continued to fall in June, data from the British Retail Consortium showed on Wednesday.

The shop price index slid 0.7 percent year-on-year in June, after easing 0.6 percent in May. Non-food prices were down 1 percent in June.

Non-food prices, particularly for fashion, remained deflationary as businesses tried to prolong the recent pickup in consumer spend, Helen Dickinson, chief executive at BRC, said.

Food prices also fell, which is a testament to supermarkets battling to keep prices low for their customers.

The fact that shop prices remain in negative territory despite the recent rise in CPI is indicative of the competitive retail landscape in the UK and keeping prices low for as long as possible is good news for shoppers, said Mike Watkins, Head of Retailer and Business Insight, NielsenIQ.

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