UK July Shop Prices Fall At Record Rates



Shop prices in the U.K. declined at the fastest rate in survey-history in July, data from the British Retail Consortium showed Wednesday. The shop prices index fell 1.9 percent year-over-year in July following the 1.8 percent fall in June. Economists had expected a 1.6 percent drop in shop prices. This marked the fastest rate of deflation since the series began in December 2006. Food inflation fell to 0.3 percent, the lowest in survey-history. Non-food deflation slowed to 3.3 percent in July from 3.4 in June.

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