Christmas discounting by retailers 'hits seven year high'
Business News 09 Jan 2014
Retailers employed record levels of discounting in the run-up to Christmas, in a bid to encourage shoppers, a new report has revealed.
The study shows that prices fell at the fastest rate for seven years in December 2013.
According to the British Retail Consortium (BRC), shop price deflation reached 0.8%, compared with 0.3% in November.
While food price inflation slowed from 2.3% to 1.7%, its lowest level in more than three years, non-food annual deflation reached 2.3%, compared with 2% in November.
'Cyber Monday' also contributed to high levels of discounting.
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