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Shop Price Declines are Slowing as Sterling Depreciation Takes Hold

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Prices in British shops fell last month by the smallest margin since mid-2015, in a further sign that rising costs linked to June’s Brexit vote are feeding into high street prices, an industry survey showed on Wednesday.

Shop prices fell 1.4 percent, the smallest annual drop since August 2015 and compared with a 1.7 percent decline in November, the British Retail Consortium (BRC) said.

It repeated its forecast that shop prices would soon begin to rise for the first time since 2013.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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