Non-food prices rise for first time in 15 months
Non-food prices have risen for the first time since 2011, figures released by the British Retail Consortium have revealed today.
While food inflation remained unchanged at 3.5% in March, non-food inflation rose 0.2% compared with a 0.4% fall in February. This was the highest rate and the first positive figure in 15 months.
The BRC said the rise in non-food prices was driven by gradual growth across a number of categories rather than any one category seeing a substantial increase. Helen Dickinson, BRC director general, said: “It bears out anecdotal evidence that demand is strengthening and promotions are less widespread than last year.”
Overall shop price inflation rose to 1.4% in March from 1.1% in February.
Never Miss a Retail Update!Dickinson added: “Total inflation is at its highest rate since December, again reflecting that many retailers went into the New Year with less stock to clear so discounting is less extensive compared with 2012.
“Next month will be the ‘one to watch’. It’ll be interesting to see if the prolonged unseasonably cold and wet weather leads to deeper discounting on Spring lines for some retailers.”
