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Scottish customers more resilient
07 Aug '08
1 min read
Year-on-Year: In July overall annual shop price inflation was 3.8% in Scotland, an increase from June's rate of 2.5%. Analysing the average rates over the past year reveals inflation of 1.6%, increasing to 2.3% over six months and 2.9% during the past three months.
Month-on-Month: Compared to this time last month prices have increased by 1.1%, the sixth consecutive month to show positive price movement.
Fiona Moriarty, Director, SRC comments:
“Demand for non-food goods is holding up better in Scotland than the rest of the UK thanks to more resilient consumer confidence, supported by a stronger housing market.
“Scotland and the whole UK are seeing food prices rise but Scotland is seeing rises in non-food prices too. That explains slightly higher overall shop price inflation in Scotland but this is just Scottish shop prices playing catch-up.
Scottish inflation was below the UK for all the first half of 2007 and prices here have risen only 1.9 per cent since the end of 2005, less than for the whole UK.”
Month-on-Month: Compared to this time last month prices have increased by 1.1%, the sixth consecutive month to show positive price movement.
Fiona Moriarty, Director, SRC comments:
“Demand for non-food goods is holding up better in Scotland than the rest of the UK thanks to more resilient consumer confidence, supported by a stronger housing market.
“Scotland and the whole UK are seeing food prices rise but Scotland is seeing rises in non-food prices too. That explains slightly higher overall shop price inflation in Scotland but this is just Scottish shop prices playing catch-up.
Scottish inflation was below the UK for all the first half of 2007 and prices here have risen only 1.9 per cent since the end of 2005, less than for the whole UK.”
Scottish Retail Consortium
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