"Retailers are having to work hard to encourage customers"
- Mike Watkins, senior manager of retail services at Nielsen
U.K. shop-price inflation slowed in February as stores cut prices to lure shoppers, the British Retail Consortium said on Wednesday. Retail prices rose 1.2 per cent from the same period last year.
"Promotional activity has been sustained over the last three months as consumer confidence remains fragile," said Mike Watkins, senior manager of retail services at Nielsen.
"Retailers are having to work hard to encourage customers."
"Today's report is consistent with our view that annual inflation is likely to maintain its downwards trajectory over the course of this year," economists at Barclays wrote in a note to clients.
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