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February annual price inflation remains unchanged
06
Mar '08
Year-on-Year: For the second consecutive month shop prices in London were 2.5% up compared to a year ago thus remaining at the lowest rate of inflation since June 2007. London continues to show shop price inflation that is significantly higher than the UK as a whole where annual inflation rose to 1.3% in February from January's rate of 1.2%.

Month-on-Month: In February shop prices were up 0.4% compared with the previous month. Prices picked up again in February as discounts became less widespread.

February's 0.4% increase on a month-on-month basis offset January's 0.4% fall in prices compared with a month ago. This follows the same trend as both the UK and Scotland, where prices rose in February after falling in January.

The BRC's new Director General, Stephen Robertson, said:
“Discounting continued to be used by London retailers to encourage customers to spend. In February annual price inflation remained the same as the previous month, the lowest rate since June last year. Shoppers remained cautious about purchases as concerns about the economy continued.”

Mike Watkins, Senior Manager, Retailer Services, Nielsen comments:
“More stable prices in non-food in recent weeks are no longer providing a counterbalance for the consumer as food prices continue to increase. So with overall spend still slowing, retailers in London may need to consider increased promotional activity post Easter to drive sales“

British Retail Consortium

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