U.K. s shop prices rise at slowest annual pace in 3 months
U.K. shop prices increased in June at the slowest annual pace in three months as the effects of fluctuations in commodity and currency costs abated, the British Retail Consortium said.
Prices of goods in stores rose 1.5 percent last month from a year earlier, compared with a 1.8 percent gain in May, BRC said in an e-mailed statement. That s the slowest pace of increases since March. On the month, prices fell 0.1 percent.
The era of shop-price volatility seems over for now, Stephen Robertson, director general of the BRC, said in the statement. Low and stable inflation appears likely for the rest of the year. In the face of weak demand, retailers will continue to use widespread discounts and promotions.
Non-food price increases slowed to an annual 1.4 percent in June from a rate of 1.6 percent the previous month, while the rate of yearly food-price gains declined to 1.7 percent from 2.2 percent in May, the retailers group said.
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