UK shop prices take a tumble in April

Shop prices deflated for the twelfth consecutive month in April, decelerating to 1.4% from 1.7% in March.

The price change is the deepest deflation in the British Retail Consortium’s Shop Price Index data series, which dates back to December 2006.

The BRC said retailers will continue to respond to cost-conscious consumers by keeping prices down.

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Mike Watkins, head of Retailer and Business Insight, Nielsen commented: ‘’Over the last six months we have seen shop prices falling and in recent weeks stabilising, whilst consumer confidence is slowly improving, shoppers remain cautious.

“So retailers are holding back on price increases wherever possible. With the escalation of price cutting by the major Supermarkets impacting shopping baskets over the next few weeks, we can anticipate any external pressures on food inflation to be held in check for the time being.”

Clothing and footwear deflation reached 11.3% in April from 12.3% in March, the BRC said.

 

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