Shop prices kept in check

first_img INTENSE competition between retailers in the run up to Christmas is driving down shop price inflation, new figures reveal today. Shop prices are rising at a much slower rate than overall inflation, the Shop Price Index (SPI) showed.For the first time in five months year on year shop price inflation actually fell, down to two per cent in November from 2.2 per cent in October – considerably below overall Consumer Price Index (CPI) inflation, which hit 3.2 per cent in October.But in shops, even food price inflation fell, down from 4.4 per cent in October to four per cent last month. This is despite commodity prices driving up food costs globally. In China food inflation hit 10.1 per cent in October, provoking concern over the welfare of the country’s poor.“A fall in [UK] food inflation shows the highly competitive grocery market is keeping costs down,” said Stephen Robertson of the British Retail Consortium (BRC), which compiled the data with market researchers Nielsen.And non-food inflation fell below one per cent, to 0.9 per cent.As retailers scramble for business, special offers are being offered well in advance of the traditional time for sales after Christmas, Robertson said. According to the data, 38 per cent of fast moving consumer goods are being sold on special offer, an all-time high.On 4 January the government will increase VAT to 20 per cent, potentially dampening sales. “We expect retailers to keep promoting and discounting,” said Mike Watkins of Nielsen. Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald whatsapp Shop prices kept in check Show Comments ▼ Sharecenter_img whatsapp Tuesday 7 December 2010 9:00 pm KCS-content Tags: NULLlast_img read more