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MNI BRIEF: Lockdown Weighs on UK Shop Prices in March: BRC

MNI (London)
LONDON (MNI)

UK shop prices fell in March, again led by non-food prices, as the third consecutive month of lockdown led retailers to continue discounting, Helen Dickinson, OBE, Chief Executive from the BRC said Wednesday.

"Prices of fashion and footwear have seen double digit declines in 11 of the past 12 months, highlighting how those worst hit have been working hard to tempt consumer spending," Dickinson added.

However, many retailers will not be able to maintain the low prices going forward, she said. "Rising global food prices, at their highest since 2014, as well as increased oil prices and shipping costs, and Brexit red tape will likely begin to filter through, pushing up prices at tills." Dickinson noted. The BRC-Nielsen shop price index remained at February's level of -2.4% in March, with food inflation ticking up to 0.3%, while non-food prices fell by 4.0%, which is the fastest decline since May 2020.

Source: BRC-Nielsen Shop Price Index

MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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