UK retail prices for non-food in November fell by 3.3% due to discounts in DIY, electricals, footwear, clothing, hardware and gardening. Figures from The British Retail Consortium-Nielsen Shop Index also show that overall sales decreased 2.1% compared with the same period last year which was a joint low with March this year. This marks the 31st consecutive month of retail prices dropping.
Commenting, Helen Dickinson, British Retail Consortium director general said: “Shop prices fell by 2.1% last month as a result of retailers continuing to invest in price, intense competition in the run-up to Black Friday and lower commodity prices, marking a joint record low for falling prices.
“Food prices fell by 0.3% as the impact of past falls in oil, weaker demand in emerging markets and a strong pound, helped support a continued deflationary environment.”
She added: “This trading environment should be considered with the impact of the industry’s regulatory burden.
“BRC analysis shows that the combined cost of policy announcements since the General Election adds up to approximately £14bn over the next five years.”
Adding his comment, Mike Watkins, Nielsen’s head of retailer and business insight said shoppers have enjoyed falling sales “for the best part of two years”. Falling prices across the high street and food retailers in November will be another welcome boost for shoppers as they plan their Christmas spending.
