Shop prices fall after stores offer discounts and spending slows – The Times

Prices in Britain’s shops fell in August amid a slowdown in consumer spending and a rise in promotional activity, according to a survey.

Deflation deepened to 0.4 per cent this month, compared with a 0.1 per cent fall in July, according to figures from the British Retail Consortium and Nielsen, the consumer insights group.

The fall was driven by prices for clothes, consumer goods and other non-food items, which fell by 1.5 per cent, the fastest rate of decline since June 2018.

Price increases for food slowed to 1.6 per cent, from 1.7 per cent in July.

The BRC blamed the slowdown on weak consumer spending and a rise in discounting among retailers. It found that prices in the DIY, furniture, clothing and electricals categories…

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