Non-food retail price deflation increased in September as retailers looked to tempt shoppers.
Non-food deflation increased to 2.1% in September, a jump from August’s rate of 1.5%. This is below the three-month average rate of 1.5%. Inflation is at its lowest rate since March 2021, according to the BRC.
Overall retail deflation doubled to 0.6%, twice the three-month average.
Ambient Food inflation decelerated to 3.3% in September, down from 3.4% in August. This is below the 3-month average rate of 3.4% and remained at its lowest since March 2022.
‘September was a good month for bargain hunters as big discounts and fierce competition pushed shop prices further into deflation. Shop price inflation is now at its lowest level in over three years, with monthly prices dropping in seven of the last nine months. This was driven by non-food, with furniture and clothing showing the biggest drops in inflation as retailers tried to entice shoppers back. Food inflation edged up slightly as poor harvests in key producing regions led to higher prices for cooking oils and sugary products,’ says Helen Dickinson, BRC chief executive.
