Annual shop price inflation went negative in August for the first time since February 2007, taking some of the pressure off hard-up shoppers, particularly those in debt.
The BRC-Nielsen Shop Price Index for August 2009 showed a fall in year-on-year shop prices of 0.1%.
The fall was driven by a sharp fall in food price inflation in recent months. In August, food inflation fell to 2.3% – the fifth consecutive monthly fall.
A spokesperson for company Gregory Pennington said: “Following the sharp increases we`ve seen in some shop prices, this price deflation may come as a relief to many people, especially people who are struggling with debt problems.
“Of course, lower prices alone won`t solve people`s debt problems – so it`s important that anyone in debt contacts a professional debt adviser as soon as they spot signs of trouble.”
Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.
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Tags: Debt, Shop Price
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