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| | | | 04/06/2014 | Retail Week, Tiffany Holland - Shop prices fall 1.4% to record thirteenth month of deflation | | | | | May sees thirteenth consecutive month of deflation | | | | | Retail Week reports that according to May's British Retail Consortium (BRC) Nielsen Shop Price Index, prices deflated 1.4% year-on-year, the same rate as recorded in April, making May the thirteenth consecutive month of deflation.
Prices have been kept low as food retailers compete in the price war and non-food retailers keep value-for-money at the forefront.
Food inflation was unchanged at 0.7% from April, the lowest ever recorded.
Non-food recorded 2.8% deflation in May from 2.7% deflation in April. The category has reported deflation for the fourteenth consecutive month.
The Index said food inflation stayed at its lowest level since it started in December 2006. Year-on-year fresh food inflation rose 0.6% in May and ambient food fell to 0.9%. Overall food inflation has averaged just 1.8% over the last 12 months and 0.7% in the last three months.
Across non-food, the only category to record inflation year-on-year was health and beauty, at 0.4%. Clothing and footwear has the biggest rate of deflation and reached 11.4% against May last year, while electricals are deflating at the next biggest rate, recording deflation of 3.1% |
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