UK shop prices fell 0.8% year-on-year in October with non-food prices down 2.1%, food inflation eased to 1.9% and fashion prices rose slightly.
UK shop prices fell by 0.8% year-on-year in October, the third consecutive monthly decline. Non-food prices dropped 2.1%, while food inflation eased to 1.9%. Fashion prices slightly increased due to reduced discounts. The British Retail Consortium warns of potential price volatility from geopolitical tensions, climate change, and government regulation. They urge the Chancellor to implement a Retail Rates Corrector to support retailers and maintain competitive pricing.
October 28, 2024
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