Home / Knowledge / News / London Shop Price inflation shows slight fall
London Shop Price inflation shows slight fall
09
Jan '08
Year-on-Year: In December the Shop Price Index (SPI) for London showed that prices were 2.9% higher than a year ago. Shop price inflation was only marginally lower than last month when prices rose 3.0% year-on-year.

The non-food sector still has a high level of promotional activity, with many retailers reducing prices earlier than usual. However, this continues to be outweighed by the high level of inflation seen in food prices, despite increased promotional activity.

Month-on-Month: Shop prices rose 0.4% between November and December compared to 0.2% between October and November. The increased rate of inflation is due to a reduction in the amount of discounting taking place in non-food compared to November.

Kevin Hawkins, Director General, LRC comments:
“With customers strapped for cash, retailers in London started discounting earlier than usual in December. Much of the discounting came from retailers selling big ticket items, like furniture.

There are still inflationary pressures from food, which dampened the promotional activity within that sector. And with consumers facing higher energy and mortgage costs, the Bank of England should cut rates again to provide a much needed to boost to consumers and retailers alike.”

Mike Watkins, Senior Manager, Retailer Services, Nielsen comments:
“Whilst the unprecedented levels of discounting during 2007 may have given some short-term sales boosts to London high street retailers, consumer demand continues to weaken and any underlying price inflation will only make it more difficult to entice shoppers to spend.“

British Retail Consortium


Must ReadView All

Courtesy: Nine West

Fashion | On 17th Jun 2018

ABG wins bid in Nine West Holdings auction

Authentic Brands Group (ABG), owner of a global portfolio of...

Courtesy: Kreussler

Textiles | On 17th Jun 2018

USDA certifies Kreussler's solvent as biobased

The US Department of Agriculture (USDA) has certified Kreussler's...

Courtesy: ITUC

Textiles | On 17th Jun 2018

Democratic space shrink & corporate greed are rising: ITUC

Shrinking democratic space for working people and unchecked corporate ...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search