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MNI: UK Nov Shop Price Deflation Steady At 0.1% On Year: BRC

MNI (London)
BRC Nov Shop Price Index Down O.1% y/y; Matches October Outturn
By David Robinson
     LONDON (MNI) - Shop price deflation held steady in November at the minimal
level of 0.1% on the year, matching the September and October outturns,
BRC-Nielsen data showed.
     The British Retail Consortium-Nielsen Shop Price Index fell 0.2% on the
month in November and posted its third consecutive 0.1% drop on the year. Food
price inflation eased while non-food deflation lessened.
     Food prices in November were up 1.5% on the year, below the 2.2% rise on
the year in October. Non-food deflation in November was 1.1% compared to 1.5% in
October.
     Helen Dickinson, BRC Chief Executive, said that shop prices were "still
teetering on the edge of a return to inflationary territory. November now marks
the 55th consecutive month of deflation with the current rate the shallowest in
the last four years."
     Headline UK inflation may have peaked in October. CPI rose 3.0% on the year
in October, unchanged from September, with the Bank of England forecasting that
October would be the high point.
     These latest BRC data, showing shop price deflation flat-lining at minimal
levels, are consistent with the story of elevated, but no longer accelerating,
overall inflation levels. 
--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MABDS$,M$B$$$,M$E$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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