UK shop prices declined in June for the first time since October 2018, monthly data from the British Retail Consortium showed Wednesday.
Shop prices dropped 0.1 percent year-on-year, following a 0.8 percent rise in May. The decline was driven by a 1.2 percent drop in non-food prices, while food prices advanced 1.8 percent.
“A no deal Brexit would hinder retailers’ abilities to continue to contain prices, as checks and delays would raise the cost of doing business,” Helen Dickinson, chief executive at BRC, said.
“The October 31st deadline also comes at the worst possible time for retail – the height of preparations for Christmas and Black Friday, which are peak trading periods, threatening to cause disruption for consumers and businesses, and making further stockpiling of goods almost impossible,” Dickinson added.