UK Shop Prices Drop 1.7% In December - BRC

Retail prices in the United Kingdom were down a seasonally adjusted 1.7 percent on year in December, the British Retail Consortium said on Wednesday. That beat forecasts for a decline of 1.8 percent following the 1.9 percent fall in November. Food prices were up 0.1 percent after falling 0.2 percent in November - the first such decline in the history of the series. Non-food prices dropped 2.8 percent in December after falling 2.9 percent in November. Shop prices were down every month in 2014, and have declined in 20 consecutive months overall. "A number of key commodities in the retail supply chain, in particular oil, have fallen dramatically recently and the impact of these falls will continue to make its way through to shop prices for some time to come," said Helen Dickinson, BRC director general.

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