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.
UK retail prices continued to slide in August, albeit at a slower pace, with industry experts expecting higher consumer costs in months to come, the British Retail Consortium said Wednesday. Shop price deflation eased to 0.8% in August from a 1.2% annual decline in July, as consumer costs rose between July and August, according to the BRC.
"Low prices are already under threat, and now the HGV driver shortage has created an additional problem," said Helen Dickson, chief executive of the British Retail Consortium. "Disruption has been limited so far, but in the run up to Christmas the situation could get worse."
Food prices rose by 0.2% between July and August, but the annual fall in prices slowed to 0.2% from a 0.4% decline in July. Non-food prices rose by 0.6 in August, bringing the annual decline to 1.2% from 1.8% in July. But questions remain over whether retailers will absorb those higher costs or pass them on to consumers. "The next six months will be an important time for retailers to keep prices stable by absorbing as much of any increase in their supply chain costs as possible," said Mike Watkins, head of retailer and business insight at NielsenIQ.
Source: BRC/NielsenIQ
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.