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Aug 05, 2015
By Admin *
UK store prices fell more sharply in July than in June, due partly to bigger discounts on clothes, the British Retail Consortium (BRC) said.
Store prices last month fell 1.4% compared with a 1.3% dip in June.
“Clothing retailers were keen to shift their summer stock with widespread discounts clearly part of their strategy,” BRC director general Helen Dickinson said, pointing to a year-on-year fall of 4.9%.
The consumer prices index showed its first year-on-year fall in prices in over 50 years in April, and stood at zero in June, but few analysts see a risk of entrenched deflation.
The Bank of England is due to publish new forecasts for growth and inflation on Thursday.
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