British Shop Prices Decline for Seventh Consecutive Month in Early December

A recent survey by the British Retail Consortium (BRC) reveals a decline in shop prices for the seventh consecutive month during December

British Shop Prices Decline for Seventh Consecutive Month in Early December

A recent survey by the British Retail Consortium (BRC) reveals a decline in shop prices for the seventh consecutive month during December, despite the holiday season and special discounts. Shop prices between December 2 and December 6 were down 0.4% YoY after a 0.5% decline seen in November.

Weak consumer demand had spurred retailers to offer deeper discounts sooner in 2019. In addition, supermarkets also reduced prices in the face of declining sales volumes in a bid to increase holiday shopping ahead of Christmas.

Brexit uncertainties have kept the retail sector under considerable pressure over the past few years, making consumers hesitant to spend more money. This weak sentiment among consumers has also reflected in CPI, which has remained at 1.5%, the lowest rate in three years.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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