British shop prices fell in November to the joint weakest level on record, according to the British Retail Consortium’s latest figures.
Prices in British shops fell by 2.1 percent over the 12 months to November, an even steeper fall than the 1.8 percent published in October. Food prices were leading the figures down, seeing a 3.3 percent drop.
BRC chief executive Helen Dickinson commented on the results, saying, “Although the survey period does not cover Black Friday, it is likely that some retailers were discounting early in November in order to spread consumer spending over a longer period.”
Black Friday, traditionally a big sales day in America, continued to grow bigger in the UK this year, which is likely to impact on shop prices for December too.
The BRC price index has shown deflation for 31 consecutive months, pushed down by a price war among supermarkets and they struggle to compete in an increasingly challenging market.
