UK shop prices fall for first time in almost three years

British shop prices fell in annual terms this month for the first time since October 2021, pushed down by summer sales of clothes and household goods, a survey showed this week.

The British Retail Consortium said shop prices fell by 0.3 per cent in August compared with the same month in 2023, after a 0.2 per cent increase in July.

Prices of non-food goods dropped by 1.5 per cent, the biggest fall in just over three years, while food prices increased by 2.0 per cent, slowing...