BRC report continued deflation for shop prices

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According to the British Retail Consortium (BRC), shop prices reported deflation for the thirteenth consecutive month in May, remaining unchanged at 1.4% from April. 

Non-food reported annual accelerated deflation of 2.8% in May from 2.7% in April, the fourteenth consecutive month of deflation.

BRC director general Helen Dickinson said: “We’ve passed the fourteenth consecutive month of non-food deflation, mainly as the result of good bargains in categories popular with consumers in summer months such as clothing and footwear. Value was also a mainstay across the gardening and DIY categories, as retailers competed to cater for strong demand over the May Bank Holiday.”

She added: “Further evidence that consumer confidence is steadily improving was picked up by the GfK index which is now at a nine year high. The everyday low prices offered by retailers have clearly played a role in the rise of household spending.”

She also noted: “With the World Cup fast approaching I would expect retailers to continue to keep prices down for the foreseeable future.”

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