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.
The BRC-Nielsen shop price index declined by 2.2% on an annual basis in January, the lowest level since May 2020, as post-Christmas sales and the new lockdown drove prices down. Prices for non-food products, especially clothing and DIY goods, fell 3.6%, while food prices eased by 0.2%. Food inflation dropped to the lowest level since January 2017 as firms find themselves in fierce competition for market share. Prices for fresh food decreased for the second consecutive month, ticking down by 0.8%.
Source: BRC-Nielsen Shop Price Index
"January is always a difficult month for retailers after the increased spending over the Christmas and New Year and the impact of the return of lockdown has been further price deflation in non food, as retailers keep prices low to encourage shoppers to spend online." Mike Watkins, Head of Retailer and Business Insight, Nielsen said.
"Brexit-related red tape, rising global shipping costs and food commodity prices, as well as the weight of forced closures and restrictions for many retail businesses, means that pricing pressures are stacking up for retailers." added Helen Dickinson OBE, Chief Executive, British Retail Consortium.
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.