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Financial News: UK Shop Prices Fall At Slower Pace: BRC

UK Shop Prices Fall At Slower Pace: BRC

01/28/2020 - 22:38:00 (RTTNews)

(RTTNews) - UK shop prices decreased at a slower pace in January, a survey from the British Retail Consortium showed on Wednesday.

The BRC-Nielsen shop price index dropped 0.3 percent on a yearly basis. Prices had declined 0.4 percent in December.

Shoppers will cheer as non-food prices fell in January, a continuation of the long-term trend in retail, Helen Dickinson, chief executive at BRC said. This was tempered by growth in food prices which accelerated to 1.6 percent, slightly above the 6-month average.

Whilst promotions in Supermarkets have returned to more normal levels post-Christmas, the sector remains embattled with fierce price competition which looks set to continue, Mike Watkins, head of retailer and business insight, Nielsen said.

And after a decline in volumes across food retailing last year, the industry will be looking to stabilize sales in the first quarter, Watkins noted.

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