UK shop price inflation picks up in March - BRC
LONDON (Reuters) - British shop price inflation accelerated last month, as prices of goods other than food rose for the first time in 15 months indicating a better mood among shoppers, the British Retail Consortium said on Wednesday.
BRC Director General Helen Dickinson said: "Non-food prices have edged into inflationary territory for the first time in 15 months... It bears out anecdotal evidence that demand is strengthening and promotions are less widespread than last year.
"I would expect food inflation to remain fairly steady in the medium term.
"Total inflation is at its highest rate since December, again reflecting that many retailers went into the new year with less stock to clear, so discounting is less extensive compared with 2012.
"Next month will be the one to watch. It'll be interesting to see if the prolonged unseasonably cold and wet weather leads to deeper discounting on spring lines for some retailers."
(Reporting by Olesya Dmitracova; editing by Ron Askew)
- Tweet this
- Share this
- Digg this
- Breakthrough hopes dented as Ukraine accuses Russia of new incursion
- Business leaders urge Scots to vote against independence
- Former PM Brown sets aside feud to fight Scottish independence
- British Muslims blame jihadi subculture after beheading video
- Islamic State executes soldiers, takes hostages at Syria base - social media