UK Retail: shop prices fall for ninth consecutive month

UK Retail: shop prices fall for ninth consecutive month

Prices in Britain’s shops fell at the fastest rate in more than seven years in January as retailers resorted to aggressive discounting on clothing, furniture and electrical goods to encourage consumers back into stores after the festive period.

Shop price deflation accelerated to 1% last month from 0.8% in December according to the British Retail Consortium/Nielsen shop price index, as January sales were deeper than usual.

It was the ninth consecutive month of falling prices and the sharpest deflation rate on record since the series began in December 2006.

Helen Dickinson, the BRC’s director general, said: “January is always a key month for sales and promotions but discounts have been deeper and more widespread than last year and we are seeing this trend continuing.

“Our figures show that there have been particularly good deals to be had in clothing, furniture and electrical items this month as retailers prepare for their new collections.”

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