- Vivian Hendriksz |
Apparel and footwear prices dropped 7.8 percent year-on-year last month, a further decline from the dip of 6.8 percent in January according to the latest data from the British Retail Consortium - Nielsen Shop Price Index.
The BRC added that all categories within the apparel and footwear section reported a higher rate of deflation than the overall rate, with the category reporting a twelve and three month average of 10.3 percent and 8.1 percent respectively. Overall shop prices reported a drop in prices for the 22nd consecutive month, further declining to 1.7 percent in February from 1.3 percent in January.
BRC Director General, Helen Dickinson, commented: "Prices in Britain’s shops continue to fall, this month by minus 1.7 percent. That’s in line with the twelve-month average and has been largely driven by falling prices of non-food items. Those shoppers enjoying the January sales could continue into February with great bargains on the high street, especially for clothing."
Mike Watkins, Head of Retail and Business Insight, Nielsen, added: "Since the start of the year, we have seen some very competitive pricing across non-food channels and this is helping to keep prices low for shoppers. With many commodity prices still falling, if shoppers can be encouraged to spend more, then retailers will be looking for volume sales increases over the next few months."