UK retail prices decline, but the full impact of the Middle East war has yet to emerge
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Golden Ten Data, April 28 — Amid escalating geopolitical tensions, UK retailers have offered discounts to stimulate consumer spending, helping to ease shop price inflation in April. The UK's April BRC shop price index annual rate fell from 1.2% in March to 1%. Food inflation dropped to 3.1% from 3.4% the previous month, while non-food prices slipped by 0.1% year-on-year, reversing the 0.1% inflation seen in March. Helen Dickinson, CEO of the British Retail Consortium (BRC), stated that retailers have intensified price competition to encourage greater spring spending in an environment of weakening consumer confidence. She added: "While we have yet to see the full impact of the Middle East conflict on consumer prices, this impact is expected to start becoming apparent soon."
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