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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: TobagoJack who wrote (21224)	1/13/2005 10:09:05 AM
From: mishedlo	Read Replies (1) of 116555

UK Dec shop prices at record low, down 1.41 pct yr-on-yr - BRC Thursday, January 13, 2005 11:31:53 AM afxpress.com LONDON (AFX) - High street inflation reached a record low in December as retailers discounted products heavily in an attempt to boost trade, a leading retail lobby group said. The British Retail Consortium said its shop price index fell in the year to December to -1.41 pct from -0.94 pct in November and below October's record low of -1.37 pct Kevin Hawkins, director general at the BRC said a "tough trading environment has sent the annual high street inflation rate to a record low". Both food and non-food prices fell in December, the BRC said. Prices of many non-food items, especially clothing and footwear, were cut sharply in pre-Christmas sales. "There were also numerous price promotions, especially on big-ticket items where demand has been hit by consumer caution in the face of interest rate rises and the slowing housing market," the lobby group added

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