Shop price deflation could help shoppers in debt
Filed Under (Debt Problems) by admin on 11-09-2009
Annual shop price inflation went negative in August for the first measure since February 2007, taking some of the pressure off hard-up shoppers, particularly those in debt.
The BRC-Nielsen Shop Price Index for August 2009 showed a fall in year-on-year shop prices of 0.1%.
The fall was driven by a sharp fall in food price inflation in recent months. In August, food inflation fell to 2.3% – the fifth consecutive monthly fall.
A spokesperson for company Gregory Pennington said: “Following the sharp increases we`ve seen in more shop prices, this price deflation may come as a relief to many the million, especially people who are struggling with debt problems.