UK shop prices continued to fall in March as non-food retailers resorted to discounting, data from the British Retail Consortium, or BRC, showed Tuesday.

The shop price index fell 2.4 percent on a yearly basis in March. Non-food prices were down 4 percent from last year, while food prices gained 0.3 percent.

Retail prices fell again in March as the third consecutive month of lockdown led many non-food retailers, especially clothing, to heavily discount their products, Helen Dickinson, chief executive, at BRC, said.

Rising global food prices, at their highest since 2014, as well as increased oil prices and shipping costs, and Brexit red tape will likely begin to filter through, pushing up prices at tills, Dickinson added.

The material has been provided by InstaForex Company – www.instaforex.com

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