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Financial News: UK Shop Prices Continue To Fall: BRC

UK Shop Prices Continue To Fall: BRC

10/29/2019 - 23:19:00 (RTTNews)

(RTTNews) - UK shop prices fell for the fifth consecutive month in October, data from the British Retail Consortium showed Wednesday.

The BRC-Nielsen shop price index dropped 0.4 percent year-on-year in October due to continuing decline in non-food prices.

Food prices advanced 1.6 percent on a yearly basis, while non-food prices decreased 1.5 percent in October.

The year has seen relatively weak sales and retailers hope that Black Friday and Christmas will reverse this trend with the help of lower prices, Helen Dickinson, chief executive at BRC, said.

Dickinson said the threat of a no-deal Brexit has been pushed back, it has not gone away.

To remove this threat, and the price rises that would result, Dickinson urged the government to secure an agreement with the EU as soon as possible to give consumers and retailers the certainty they need.

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