Shop Prices Decline at Fastest Pace in Over a Year in Britain - Forex News by Strategia Forex
Shop prices inflation

Shop Prices Decline at Fastest Pace in Over a Year in Britain

Posted Wednesday, August 28, 2019 by
Arslan Butt • 1 min read

The BRC-Nielsen Shop Price Index (SPI) for August for all items has declined by 0.4% in August, a sharper fall than the 0.1% decline seen in July. With consumer spending remaining weak and competition staying high, shop prices witnessed the sharpest fall in over a year during August.

Prices of non-food items declined at a much faster rate, at -1.5% YoY, amid rising concerns about a possible no-deal Brexit. On the positive side, average food prices climbed 1.6% higher YoY during August.

Retailers tried to offset weak sales by offering discounts while several supermarkets resumed offering vouchers to counter weak consumer spending. According to BRC Chief Executive Helen Dickinson, in the event of a no-deal Brexit, costs of imported goods could go up in the UK adn possibly reverse the decline in SPI in the coming months.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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