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British Retail Consortium

British High streets still in deflation as prices drop a further 1.4%

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By John Glenday, Reporter

September 9, 2015 | 1 min read

A High Street price survey conducted by the British Retail Consortium has shown a sharp fall in August with prices down 1.4 per cent versus a year earlier, extending a matching 1.4 per cent fall in July.

British Retail Consortium

Confirming that the deflationary cycle remains entrenched the figures also showed the cost of non-food goods falling by an even more precipitous 2.4 per cent, a slight acceleration on the pace of decline witnessed the month prior – eclipsing a marginal increase in the cost of food.

BRC director general Helen Dickinson said: "Annual food prices rose for a second month but once again the rise was marginal, by just 0.2 percent year-on-year, and is likely to be a temporary fluctuation in a longer-term downward trend driven by ongoing competition," she said in a statement.”

Prices remain on a downward trajectory amidst instense competition and continued falls in commodity prices although the Bank of England expects inflation to pick up again by the end of the year.

British Retail Consortium

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