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Scottish shop price inflation stable
09 Jul '08
2 min read
Year-on-Year: In June overall annual shop price inflation was 2.5% in Scotland, a small increase from May's rate of 2.4%. June's figure is slightly higher than the average twelve month inflation rate of 2.3%, but is the same as the UK.
Month-on-Month: Compared to this time last month prices have increased by 0.9%, the fifth consecutive month to show a positive price movement.
The BRC's Director General, Stephen Robertson, said:
“Despite annual increases of 60 and 80 per cent in world agricultural prices and oil respectively, UK food prices have only increased by seven per cent. Although their own costs are going up, food retailers are running high-profile price cuts and promotions. They are keeping prices to customers down by cutting costs and increasing sales.
“While non-food prices are up very slightly year-on-year, electricals, clothing and footwear are cheaper than this time last year. Overall shop price rises remain well below the official inflation rate as measured by the consumer price index (CPI).”
Mike Watkins, Senior Manager, Retailer Services, Nielsen comments:
“In recent weeks we've seen more cost price inflation in fresh and chilled foods as well as in some staple ambient categories and this is adding to the cost of the weekly shopping basket.
As a result we're seeing further price cuts by the major supermarkets to stimulate demand at a time when many households are under increased cost pressures from higher fuel and utility bills.”
Month-on-Month: Compared to this time last month prices have increased by 0.9%, the fifth consecutive month to show a positive price movement.
The BRC's Director General, Stephen Robertson, said:
“Despite annual increases of 60 and 80 per cent in world agricultural prices and oil respectively, UK food prices have only increased by seven per cent. Although their own costs are going up, food retailers are running high-profile price cuts and promotions. They are keeping prices to customers down by cutting costs and increasing sales.
“While non-food prices are up very slightly year-on-year, electricals, clothing and footwear are cheaper than this time last year. Overall shop price rises remain well below the official inflation rate as measured by the consumer price index (CPI).”
Mike Watkins, Senior Manager, Retailer Services, Nielsen comments:
“In recent weeks we've seen more cost price inflation in fresh and chilled foods as well as in some staple ambient categories and this is adding to the cost of the weekly shopping basket.
As a result we're seeing further price cuts by the major supermarkets to stimulate demand at a time when many households are under increased cost pressures from higher fuel and utility bills.”
Scottish Retail Consortium
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