Shop prices fall in August

Shop Prices fell by 1.6% in August compared to a decrease of 1.3% in July, according to new data from the British Retail Consortium (BRC).

This is below the 12 and six-month average price decreases of 1.0% and 1.5%, respectively.

Non-food prices also fell by 3.4% during the month, compared with a decline of 2.9% in July. This is below the 12 and six-month average price declines of 2.4% and 3.3%, respectively.

However, food inflation eased to 1.3% in August, down from 1.5% in July, whilst fresh food inflation slowed to 0.2% during the period, down from 0.9% on the previous month. 

Helen Dickinson OBE, chief executive of the BRC, said: “Consumers will welcome another month of falling prices in shops.