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BRC reports deepest level of price deflation in DIY since records began

The British Retail Consortium says gardening, alongside DIY and hardware has seen the deepest level of price deflation since its records began.

Overall shop prices reported deflation for the eighteenth consecutive month, accelerating to 1.9 per cent in October from 1.8 per cent in September.

Non-food price deflation slowed marginally to 3.1 per cent in October from 3.2 per cent in September.

British Retail Consortium director general Helen Dickinson said : "For the eighteenth month in a row, shop prices have reported deflation, matching its lowest rate on record of 1.9 per cent experienced in July 2014.

"Food inflation edged down to its lowest level on record of 0.1 per cent. For the first time since Feb 2010, fresh food experienced deflation with milk, cheese, eggs, vegetables and convenience food all cheaper than they were a year ago.

‘’Value was also a mainstay across the home category with great offers on small appliances and electricals doing particularly well as retailers competed to cater for strong pre-Christmas demand.

"DIY, gardening and hardware were at their deepest level of deflation since our records began.

"With a backdrop of falling commodity prices, cheaper imports and benign inflationary pressure in the supply chain, we expect the great deals to continue in the medium term bar any supply chain shocks.

Nielsen retailer and business insight head Mike Watkins said:  "For many non-food retailers, the mild weather of the early autumn has certainly been a challenge but it is the intense competition on the high street that is keeping prices low."

Meanwhile garden centres have reported strong half term sales.

Coolings chairman Paul Cooling said the week was "stonking", while Altons director Andy Bunker said outdoor sales were 40 per cent up in October.

Source: Matthew Appleby - Horticulture Week.

Read the full news article here.

10 November 2014

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