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Shop Price Index up in May

04
Jun '08
Year-on-Year: In May overall annual shop price inflation was 2.4% in Scotland, an increase from April's rate of 2.0%. Analysing the average rates over the past year reveals inflation of 1.0%, increasing to 1.6% over six months and 2.0% during the past three months.

Month-on-Month: Compared to this time last month prices have increased marginally to 0.6%, the fourth consecutive month to show positive price movement.

Fiona Moriarty, Director, SRC comments:
“Scottish shop prices rose slightly faster in May than those in the rest of the UK but that doesn't mean Scottish shoppers are paying more for all products.

It's an indication that Scottish retailers are slightly more confident than those South of the border who have been forced to discount very deeply to get hard-up customers in.

“Scottish food prices rose at a similar rate to the rest of the UK as Scottish retailers do all they can to avoid passing on the full impact of rising transport costs and commodity prices.”

Mike Watkins, Senior Manager, Retailer Services, Nielsen comments:
“Scotland continues to mirror UK price trends. Retailers are using promotions and discounts to help consumers manage their household budgets.”

Scottish Retail Consortium


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