Shop prices continue to fall as lockdown leads to heavy discounting

Shop prices continue to fall as lockdown leads to heavy discounting

Non-food prices saw their fastest rate of decline since May last year

New data shows that shop prices continued to fall in March as the third consecutive month of lockdown led many retailers into heavy discounting.

Overall prices fell by 2.4%, the same rate of decline as in February and below the 12 and six-month average decreases of 1.8% and 2% respectively, according to the BRC-Nielsen Shop Price Index.

Prices of fashion and footwear have now seen double digit declines in 11 of the past 12 months, highlighting how the worst-hit retailers have been working hard to tempt consumer spending.

Non-food prices saw their fastest rate of decline since May last year at 4%, compared with 3.9% in February and below the 12 and six month average declines of 3.5% and 3.5%.

Published: 31/03/2021 by Radio NewsHub

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