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Financial News: UK Shop Prices Decline In April On Non-Food

UK Shop Prices Decline In April On Non-Food Cost: BRC

04/29/2020 - 01:20:00 (RTTNews)

(RTTNews) - UK shop prices declined at a faster pace in April amid lockdown as non-food prices fell most since 2006, data from the British Retail Consortium, or BRC, showed on Wednesday.

The BRC-Nielsen shop price index fell 1.7 percent year-on-year in April.

Food retailers offered fewer promotions this April as they worked to discourage the consumer stockpiling of the previous month, pushing food inflation slightly above average, Helen Dickinson, chief executive at BRC, said.

On the other hand, some non-food sectors, particularly clothing and footwear and furniture, were hard hit, as discretionary spending evaporated, resulting in deep price cuts.

Mike Watkins, Head of Retailer and Business Insight, Nielsen, said "With lockdown effectively closing the high street, non-food retailers are reliant on online sales and prices have fallen as they look to sell stock."

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