Shop price inflation decreased to 0.6% YoY in November, against growth of 1.0% in October, according to the latest BRC-NIQ Shop Price Monitor. Non-food inflation decreased to -0.6% YoY, against a decline of -0.4% in October.
Helen Dickinson, chief executive of the BRC, says: “Black Friday deals began earlier than normal as competition between retailers hit fever pitch. Savvy shoppers picked up some great deals across health and beauty, electricals and fashion.
"While food price inflation remains elevated, widespread promotions meant price rises eased over the month, especially in dairy, fruit, breads, and cereals. Inflation remained stubbornly high for oils and fats, and meat and fish, as climbing input costs passed through from producers. With Budget uncertainty behind us, retailers are hoping that consumer confidence rebounds in this crucial trading period and they will continue doing everything they can to keep prices down and help customers’ money go further this Christmas."
Mike Watkins, head of retailer and business insight, NIQ, adds: “It’s good news for shoppers that price increases are slowing but inflationary pressures still remain, in particular within food. The UK retail market is very competitive so retailers will need to keep any price increases as low as possible in the run-up to Christmas, in order to entice shoppers to spend.”
