LSP rises: below official inflation
June 04, 2008 - United Kingdom
Year-on-Year: In May overall shop price inflation was 2.7% in London, the highest for six months and an increase from April (2.2%).
Analysing the average rates over the past year reveals inflation of 2.5%, falling to 2.4% over six months and 2.2% during the past three months.
Month-on-Month: Month-on-month inflation in May was 1.0% in London, an increase from April which reported inflation of 0.4%.
The BRC's Director General, Stephen Robertson, said:
“London shop prices rose at less than the Government’s official rate of inflation.
This reflects retailers continuing to discount in response to weak consumer confidence, tighter household budgets and worries over job security.”