Scottish Retail Consortium announced Scottish Shop Price Index for March 2008.
Year-on-Year: In March overall annual shop price inflation was 1.6% in Scotland, unchanged from February's rate. It marks a second consecutive month in which inflation is higher than the UK average and is the highest year-on-year inflation rate recorded since the index was created in December 2006, with the exception of the previous month.
Month-on-Month: Compared to this time last month prices have increased marginally by 0.1%, the second consecutive month to show positive price movement.
Fiona Moriarty, Director, SRC comments:
"Year-on-year, Scottish shop prices rose at the same rate in March as the previous month, still well below the official rate of inflation. This is despite big rises in commodity prices and fuel bills and demonstrates Scottish retailers are doing all they can to shield customers from these increasing costs.”
Mike Watkins, Senior Manager, Retailer Services, Nielsen comments:
“Like the rest of the UK, retailers in Scotland are reluctantly being forced to pass on some of the cost price increases at a time when disposable incomes are increasingly under pressure.”
Scottish Retail Consortium
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