Prices to keep falling, down the shops

6 January 2016

shoppers Prices on the high street are going to continue falling, which is just lovely news for those of us who like buying things. Across the board, prices saw a deflation of 2% in December, according to the folks at BRC-Nielsen Shop Price Index.

This trend has been going on for two years and eight months now, and it looks like (according to those crunching the numbers) that this is going to carry on well into 2016. One of the things that looks likely to keep falling in price is oil, which hopefully means cheaper fuel at petrol stations!

As well as that, food prices in December were 0.3% lower than the same period the year before. There was a 3% drop in electrical products, as well as hardware, gardening, footwear and clothing items.

Helen Dickinson, chief executive of the British Retail Consortium, said: "This is an incredible run of good fortune for shoppers who've been preoccupied with picking up presents for family and friends, as well as themselves, ahead of the holiday season."

"With retailers continuing to invest in price, relatively low commodity prices and intense competition a hallmark of the industry, we can expect falling prices to continue in the medium term."

Of course, this isn't great news for the retailers themselves, as a number of them saw a decline in full-price sales. However, they can carry on blaming 'unusually warm weather' as usual, while we all get to fill our boots.

TOPICS:   High Street News   Banking

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