Prices in shops still reading deflation according to the latest British Retail Consortium survey
More detail (this via Reuters)
- Prices had fallen at their slowest annual rate in four years in June, at 0.3 percent
- In July deflation reverted back to the levels seen in May, with prices falling by 0.4 percent. Helen Dickinson, chief executive of the British Retail Consortium, said the July figure brings "the march of overall shop prices towards inflationary territory to a halt, for now at least"
- Food prices rose by 1.2 percent in July compared with a year earlier, slower than a 1.4 percent rise the month before
- "There is a limit to how much retailers can absorb into their margins," Dickinson said. "As we move into the autumn we can expect non-food prices to get closer to inflationary territory"
