Published on January 30th, 2019 | by The GC Team0
Shop prices inching up
Shop prices edged up 0.4% in January despite many retailers engaging in post-Christmas discounting.
According to the BRC/Nielsen shop price index, food prices rose by 1.5% while non-food prices declined 0.3% – an improvement on December’s 0.4% decline.
Mike Watkins, Head of Retailer and Business Insight at Nielsen, said intense price competition between food retailers at the start of the year is protecting customers from rising prices, and there is no inflationary pressure coming from the high street as retailers, faced with weak demand, continue to absorb the impact of any rising costs themselves.
“The retail outlook is for low growth over the next couple of months and for shop price inflation to remain at around current levels, and less than CPI,” he added.