BRC-Nielsen Shop Price Inflation Held At Bay in July

Cautious consumers have held back on discretionary spending in July, according to the latest British Retail Consortium - Nielsen Shop Price Index.

Top Line Figures:

All items: -0.1% (% change year-on-year)

Non-Food: -1.2% (% change year-on-year)

Food: 1.7% (% change year-on-year)

Fresh Food: 1.2% (% change year-on-year)

Ambient Food: 2.4% (% change year-on-year)

Helen Dickinson OBE, Chief Executive, British Retail Consortium: 

“Shop prices fell by 0.1% for the second month in a row. 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. Furthermore, food price inflation eased slightly, in part due to the fall in global food prices.

“While we expect food inflation to remain steady over the next few months as retailers work hard to keep prices low, this will depend on whether the UK can navigate an agreement with the EU to ensure frictionless tariff-free trade continues after October 31st.” 

Mike Watkins, Head of Retailer and Business Insight, Nielsen:

"With so much economic uncertainty, it’s good news for shoppers that there was no pressure coming from shop price inflation during July. Looking ahead for the next few months, we anticipate broadly stable food inflation and non food retailers looking to keep any price increase to a minimum, as shoppers continue to be cautious around their retail spend.” 

Source : Insight DIY Team and BRC

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