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- BRC: U.K. shop prices are down 1.8% year-on-year in January
BRC: U.K. shop prices are down 1.8% year-on-year in January
According to the British Retail Consortium (BRC), the U.K. shop prices declined by 1.8% year-on-year in January, after a 2.0% decline in December.
The decline was mainly driven by a drop in non-food prices, which plunged 3.0% year-on-year in January.
Food prices rose at an annual rate of 0.1% in January.
"Higher levels of consumer confidence are currently translating into other parts of consumer spending - in leisure, entertainment and eating out - rather than into shopping which is providing the backdrop to a tough trading environment for retailers but great news for shoppers," BRC Chief Executive, Helen Dickinson, said.
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