UK sees decrease in retail prices

PRICES in British shops have dropped by 1.8 per cent in October compared to last year, the British Retail Consortium (BRC) announced on November 4.

The BRC said retail prices are expected to keep declining in the run-up to the Christmas trading period as retailers attempt to attract more shoppers. Clothing, books and DIY items experienced more deflation levels compared to food and non-food prices in the last month, the BRC said. 

Mike Watkins, Head of Retail and Business Insight at data company Nielsen, which gathers the data, said: “With the all-important Christmas trading season arriving soon, non-food retailers will need to maintain these lower prices to drive footfall.”