BRC figures confirm quiet June
Lowest monthly rise this year
July 4 2002
The slowdown many retailers experienced in June has been confirmed by the British Retail Consortium’s monthly index of UK shop prices.
The index rose 0.15 per cent in June, leaving prices just 0.25 per cent up on last June, the lowest year-on-year increase of 2002.
Price rises were mainly seen in non-food items, particularly clothing. Some food prices, notably chicken and tomatoes, fell.
Bill Moyes, BRC director general, said low retail prices prove “that competition in the sector is delivering real value for consumer. Retailers continue to deliver stable economic growth without causing inflationary problems, but that could be jeopardised by an unnecessary rise in interest rates.”
Factors such as the World Cup and the four-day jubilee holiday ae thought to have combined with a general softening of consumer confidence to hit retail sales last month.
