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Non-food prices see sharp decline in July

Low consumer confidence has continued to keep shoppers from splashing out on discretionary items, causing a sharp decline in non-food prices in July, according to the latest British Retail Consortium (BRC) Nielsen Shop Price Index.

While overall shop price deflation for July held “steady” at a decline of 0.1% – marking the second consecutive month of deflation since October 2018 – non-food prices fell by 1.2%. Retailers are responding to the competitive environment by using price discounts to attract customers, BRC said.

“Shop prices fell by 0.1% for the second month in a row,” said BRC CEO Helen Dickinson. “Many consumers will be pleased to see the price of non-food products continuing to fall at a steady rate, underlining the stiff competition between retailers that is driving down prices.”

Source: KBB Daily

July 31, 2019 - Home Improvement Industry



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