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

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To: regli who wrote (29566)	5/7/2005 3:01:03 AM
From: mishedlo	Read Replies (1) of 116555

UK April BRC shop price index down 0.02 pct vs March, up 0.47 pct yr-on-yr Friday, May 6, 2005 10:24:45 AM afxpress.com LONDON (AFX) - High street inflation fell slightly in April after rising back to back in March and February, a leading retail lobby group said The British Retail Consortium said its shop price index for April fell 0.02 pct from March but rose 0.47 pct compared with a year ago The monthly fall reflected a 0.56 pct dip in the prices of non-food items. The drop in this category is the first since January. Food prices however, rose 0.91 pct from March. Compared with a year ago, food prices rose 2.72 pct while non-food items slipped 0.88 pct. "April saw a rise in food prices compared to last month, which was not surprising as Easter promotions on food and drink came to an end. The poor harvest in 2004 is also driving bread and cereal prices up," said Kevin Hawkins, Director General of the BRC "Overall retail price inflation is still very low and the current intensity of competition will keep it there, though this appears to be having little affect on consumer confidence," he added Hawkins said there is no justification for a rise in UK interest rates but that a case for a gradual reduction in borrowing costs may be emerging.

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