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Free AccessBRC Shop Price Index Signals Further Inflation
UK BRC NOV SHOP PRICES +0.9% M/M; OCT +1.3% M/M
UK BRC NOV SHOP PRICES +7.4% Y/Y; OCT +6.6% Y/Y
- UK shop prices continued to see inflationary headwinds in the November BRC report, accelerating by +0.9% m/m and +7.4% y/y, up from +6.6% y/y in October.
- Food inflation again drove the increase, up +12.4% y/y (vs +11.6% in Oct), yet non-food retail recorded a similar 0.7pp uptick to +4.8% y/y. The continued surge in food prices is on the back of increased energy and transport costs, alongside higher animal feed prices.
- Holiday spending is likely to be substantially dampened this year, as households’ disposable income registers the squeeze of soaring inflation and living costs.
- With demand showing signs of slowing, retailers are coming under more pressure to implement seasonal discounts and fix prices on essentials. Any small yet deflationary effects of these pricing strategies will likely feed into slowing inflation in future months.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.