Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Steep discounts on furniture and fashion weigh on January retail prices

by January 28, 2025
January 28, 2025
Steep discounts on furniture and fashion weigh on January retail prices

Steep price cuts in furniture and fashion have driven retail prices in Britain down this month, though the broader rate of decline has begun to slow.

According to the British Retail Consortium (BRC) and market research firm NielsenIQ, shop prices slipped by 0.7% year-on-year in January—less than the 1% annual fall recorded in December.

Helen Dickinson, chief executive of the BRC, explained the trend: “Extensive January sales were good news for bargain hunters, but less good news for retailers needing to shift excess stock.” The non-food sector, which includes furniture and fashion, recorded a 1.8% year-on-year decline, compared to a 2.4% drop in December when Black Friday deals enticed Christmas shoppers.

Food price inflation eased to 1.6% from 1.8%, with fresh food inflation dipping to 0.9% from 1.2%. However, ambient food products—tinned and dried goods—experienced a month-on-month rise of 1%, led by sugar, chocolates and alcohol. The annual ambient inflation rate still edged down to 2.5% from 2.8%.

Despite the current discounting, Dickinson warned that price cuts “may not last much longer” as retailers face £7bn of new costs announced in the budget. Higher national insurance contributions for employers, the increased National Living Wage and a new packaging levy are all expected to push up prices.

The BRC’s figures often foreshadow the Office for National Statistics’ (ONS) Consumer Price Index (CPI), which dropped unexpectedly to 2.5% in December. The next CPI data, covering January, is due on 19 February, with analysts forecasting a rise in inflation due to Ofgem’s energy price cap increase and new government policies. Even so, the Bank of England is widely expected to cut interest rates by 25 basis points to 4.5% at its 6 February meeting, reflecting the UK’s sluggish economic growth.

Read more:
Steep discounts on furniture and fashion weigh on January retail prices

0
FacebookTwitterGoogle +Pinterest
previous post
UK rents slip for the first time since 2019, but London remains at record highs
next post
Vital Skills that Startup CEOs Need, Which Multinational CEOs Overlook

You may also like

UK retail sales’ sluggish new year start as...

February 17, 2023

Reeves pushes Bank of England to prioritise climate...

October 30, 2024

JP Morgan’s tell top bankers to work five...

April 13, 2023

Post Office Scandal compares to IR35 scandal

January 11, 2024

UK SMEs call for policy stability amidst disagreement...

September 21, 2023

Saudi Arabia could be about to take majority...

December 12, 2023

Do You Know the Benefits of Web Application...

November 15, 2024

Chancellor’s £7.3bn green gamble aims to boost UK...

July 10, 2024

Enforced office mandates drive workers to seek flexible...

November 25, 2024

Bosses told to cut out boozy office parties...

May 9, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • DOJ launching grand jury investigation into Russiagate conspiracy allegations: sources

      August 4, 2025
    • Trump’s tariff power grab barrels toward Supreme Court

      August 4, 2025
    • Zenger at 290: The Jury’s Duty to Say No to Government Oppression

      August 4, 2025
    • What Is SameAgeDates? A Closer Look at Presence‑Driven Dating

      August 4, 2025
    • Cryptocurrency Trading: Five Strategies to Strengthen Your Position as a Reputable Broker

      August 4, 2025
    • UAE’s World’s Safest Country Ranking Creates ‘Safety Premium’ in Real Estate Market

      August 4, 2025

    Categories

    • Business (8,661)
    • Investing (2,171)
    • Politics (16,298)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved