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UK retailers reduce prices due to diminished demand

UK retailers are reducing prices due to a diminished demand. Furniture stores lowered their prices in May amidst declining sales. The British Retail Consortium/NielsenIQ reported that prices increased at an annual rate of 0.6% in May, a decrease from 0.8% in April, marking the slowest growth since November 2021.


'Shop price inflation has returned to normal levels at just 0.6%. In the non-food sector, retailers reduced furniture prices to boost sluggish demand for expensive items, and football fans have found deals on TVs and other audiovisual equipment ahead of this summer's Euros,' says Helen Dickinson, BRC chief executive.


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