BRC - British Retail Consortium : BRC-NIELSEN SHOP PRICE INDEX SEPTEMBER 2012: SHOP PRICE INFLATION SLOWS
10/03/2012| 02:59am US/Eastern
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Stephen Robertson
Director General, BRC
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Overall shop price inflation slowed marginally to 1.0% in
September from 1.1% in August. Food inflation was unchanged at
3.1% in September for the third consecutive month. Deflation in
non-food increased to 0.2% from 0.1% in August.
Stephen Robertson, British Retail Consortium Director General,
said: "Falling prices for non-food goods and stable food
inflation are slowing overall shop price rises.
"Food inflation remains at a two-year low for the third
month running despite inflationary pressures building up in the
supply chain from rises in global commodities such as wheat and
soyabeans.
"These shop price figures show retailers are holding back
much of the impact as they battle it out for every bit of
spending available from hard-up customers. Promotions,
including multi-buy offers, fuel coupons and price matching are
commonplace and helping to keep grocery bills down while
non-food prices have now been cheaper than a year ago for eight
months in a row as prices of furniture, electricals and
clothing are cut to generate sales."
Mike Watkins, Senior Manager, Retailer Services, Nielsen said:
"Over the last month, we have seen some welcome stability
in food retailing and sales growths have improved a little
compared with the early summer. Retailers have maintained the
high levels of promotional activity at 35 per cent of sales and
food inflation remains at a two-year low point at just over
three per cent. This will be helping shoppers to plan with more
confidence when juggling their household budgets."
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