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Shop prices

Thursday, November 3, 2016 2:04
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The Bank of England will doubtless want to put out a gloomy forecast for inflation for next year based on a lower pound.

They need to remember that October showed a further 1.7% fall in shop prices, including a 1.2% fall in food prices. This is from the BRC Index. This 1.7% decline figure is identical to the declines of 1.7% recorded in April and May this year before the vote.

It is true that imports will get a bit dearer from here, but important to remember we start from negative inflation on shop prices.


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